FRANKFORT, Ky. (Dec. 21, 2016) - Gov. Matt Bevin today announced Performance Feeds LLC, a manufacturer of nutritional feed products for cattle, will relocate its primary production facility from Tennessee to Bowling Green with a nearly $2.3 million investment expected to create 30 full-time jobs.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in December preliminarily approved the company for tax incentives up to $300,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
Additionally, KEDFA approved Performance Feeds for up to $40,000 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.
Performance Feeds also can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal year 2016, the Kentucky Skills Network provided training for nearly 95,000 Kentuckians and 5,000 companies from a variety of industry sectors.
For more information on Performance Feeds, visit www.performance-feeds.com