FRANKFORT, Ky. (Dec. 20, 2021) – Today, Gov. Andy Beshear announced more job creation in Central Kentucky, as Taylor Corp., among the largest graphic communications companies in North America, will invest $18.8 million in its Radcliff operation and create 28 quality job opportunities.
“I want to thank Taylor Corp. for its commitment to the Radcliff area and its workforce. Congratulations to everyone in the region, who will benefit from the growth of a quality employer,” Gov. Beshear said. “Kentucky’s economic momentum unlike anything we’ve seen before, and the continued growth of existing companies like Taylor play a crucial role in building on that success in the years ahead.”
Taylor’s leaders plan to expand the company’s existing 79,500-square-foot facility on South Dixie Boulevard in Radcliff by 30,000 square feet to support growth of its label manufacturing business. Taylor produces pressure sensitive labels for a variety of industries, such as consumer packaged goods, manufacturing and distribution, health care and retail. Jobs created by the expansion will include press operators, material handlers and supervisors, adding to Taylor’s current employment of 85 Kentucky residents. Company leadership anticipates breaking ground on the expansion in the first quarter of 2022 and completing the project by the end of next year.
“Taylor is investing to meet the growing demand for pressure sensitive labels, which is one of the fastest-growing segments in the labels and packaging industry,” said Taylor CEO Charlie Whitaker. “As one of the largest label converters in North America, with a national production and distribution footprint, we are well equipped to provide a broad range of offerings at an unprecedented scale. From grocery shelves to the packages on your doorstep, in your car and on your appliances, Taylor labels help manufacturers and retailers engage with their customers safely and efficiently.”
“Radcliff’s experienced workforce and proximity to major U.S. markets makes it an ideal place to grow our digital capabilities in durable labels,” added John Maxian, director of operations. “We’re eager to add to our team and have openings in a variety of roles now.”
Headquartered in North Mankato, Minnesota, Taylor provides a broad array of print and digital communications products, services and technologies to numerous industries and has produced labels in Radcliff for approximately 50 years. The facility is one of six locations that support the company’s Labeling Solutions business unit, with additional operations in California, Florida, Ohio, Texas and Monterrey, Mexico. Taylor employs more than 10,000 people globally.
Kentucky manufacturers greatly contribute to the state’s continued economic success, as they operate nearly 5,000 facilities, employing more than 250,000 people across the state. Since the start of the Beshear administration, approximately 300 manufacturing-related new-location and expansion announcements are creating more than 17,000 full-time jobs with over $11.7 billion in new investments.
Hardin County Judge/Executive Harry Berry said the project continues a long, successful partnership between the company and the community.
“We’re extremely excited that Taylor has decided to expand and modernize its facility in Radcliff,” Judge/Executive Berry said. “We are very appreciative for the 50 years of employment opportunities this facility has provided our citizens. The nearly $19 million investment being made by Taylor will expand the facility’s size over 35% and add yet another 28 jobs for our citizens. We are looking forward to another 50 years of great partnership with Taylor in our community.”
Radcliff Mayor J.J. Duvall said it was a team effort to bring this expansion project to Kentucky.
“We appreciate Taylor Corp.’s ongoing commitment to our community,” Mayor Duvall said. “We would also like to thank Gov. Beshear and the Kentucky Cabinet for Economic Development for all of their hard work in helping to secure this $18.8 million dollar investment in our community. The City of Radcliff looks forward to continued growth and partnership with Taylor Corp.”
Taylor’s investment and planned job creation furthers recent economic momentum in the commonwealth, as the state builds back stronger in response to the effects of the pandemic.
This year, the commonwealth has shattered every economic development record in the books. Through September, Kentucky’s average incentivized hourly wage for projects statewide is $24.15 before benefits, a 10% increase over the previous year.
In September, Gov. Beshear, Ford Motor Co. Executive Chair Bill Ford, CEO Jim Farley and Dong-Seob Jee, president of SK Innovation’s battery business, announced the single largest economic development project in the history of the commonwealth, celebrating a transformative $5.8 billion investment that will create 5,000 jobs and places Kentucky at the forefront of the automotive industry’s future.
In July, thanks to strong fiscal management by the Beshear administration, the state budget office reported the commonwealth ended the 2021 fiscal year with a general fund surplus of over $1.1 billion – the highest ever in the commonwealth – and a 10.9% increase in general fund receipts to $12.8 billion.
In May, Moody’s Analytics published a positive economic outlook for Kentucky, noting mass vaccination as the driving force behind a sustained recovery in consumer services. The state’s recovery, Moody’s said, benefited from earlier reopening efforts and increased demand for manufactured goods over services. The report also found Kentucky’s manufacturing industry outperformed the nation’s since the national downturn last year.
Fitch Ratings in May improved the state’s financial outlook to stable, reflecting the commonwealth’s solid economic recovery. The state’s April sales tax receipts set an all-time monthly record at $486.5 million, as did vehicle usage tax receipts at over $64 million.
In March, Site Selection magazine’s annual Governor’s Cup rankings for 2020 positioned Kentucky atop the South Central region, and third nationally, for qualifying projects per capita. The commonwealth also placed seventh overall in total projects, the highest of any state with a population under 5 million. Site Selection also placed Kentucky in a tie for fifth in its 2021 Prosperity Cup rankings, positioning the state among the national leaders for business climate.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) last week preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $500,000 in tax incentives based on the company’s investment of $18.8 million and annual targets of:
- Creation and maintenance of 28 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $23.40 including benefits across those jobs.
Additionally, KEDFA approved the company for up to $70,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Taylor can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
For more information on Taylor Corp., visit Taylor.com.
A detailed community profile for Hardin County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
Read about other key updates, actions and information from Gov. Beshear and his administration at governor.ky.gov, kycovid19.ky.gov and the Governor’s official social media accounts Facebook, Twitter and YouTube.