Three Northern Kentucky companies are expanding their existing operations. The growth will add about 60 jobs and will bring in more than $37 million in total investment.
Ticona Polymers Inc., a subsidiary of global technology and specialty materials company Celanese, produces specialty polymers for industrial applications, including automotive and manufacturing. Ticona, which is located at 8040 Dixie Hwy., plans to spend $4.2 million on building improvements and $21.5 million on equipment, including prototyping and full-scale production lines. Ten jobs will be added with the expansion.
Ticona received preliminary approval for $300,000 in tax incentives over 10 years from the Kentucky Business Incentive program and up to $100,000 in tax benefits through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development, and electronic processing equipment.
Best Sanitizers Inc. is a manufacturer and distributor of sanitary and soap products for a variety of industries, including hospitals, laboratories and manufacturing. The company plans to build a $4 million warehouse and distribution center next to its existing facility in Walton at 154 Mullen Dr. The expansion will create 19 jobs.
Best Sanitizers received preliminary approval for $175,999 in tax incentives over 10 years from the KBI program and up to $50,000 in tax benefits through the Kentucky Enterprise Initiative Act.
Niagara LaSalle Corp., a subsidiary of Optima Specialty Steel, is the largest independent cold finished steel bar producer in North America. The company has proposed to relocate cold finished steel bar operations to an existing facility in Florence. Its expansion will create 29 jobs and total investment of $6.65 million.
The project received preliminary approval for $600,000 in tax incentives over 10 years from the KBI program.
By Caitlin Koenig
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