Kentucky economic development officials have pre-qualified More Than A Bakery for nearly $9 million in incentives. Construction is to start this summer, with completion eyed for 2017.
The announcement was made Friday following a three-year site selection process. Bill Quigg, president of the Richmond-based family-owned company said he was pleased the company was securing acreage that would accommodate future expansion while supporting construction of a modern manufacturing plant to go up this year.
He said that expanding demand required widening production capacity. The company’s Indiana facility “is bursting at the seams,” he said, and “isn’t easily adapted for current production methods.” A previous expansion took place in Alma, GA.
Brandon Talbert, site selector at the Austin Co. in Cleveland, which handled the search, said the choice of Versailles reflected several key factors, including community and regional appeal, land availability and proximity to raw materials and transportation needs. The “attractive economic development incentive package and other assistance from the state of Kentucky” also played a role, he said.
The Kentucky Economic Development Finance Authority gave preliminary approval Thursday to an $8.7 million incentive package, including performance benchmarks that would be spread over 10 years. More Than A Bakery also received preliminary approval for $700,000 in tax incentives through the Kentucky Enterprise Initiative Act, which allows employers to recoup Kentucky sales and use tax on construction costs, Research and Development expenses, and expenditures for electronic processing.
About 40% of the Versailles site is currently zoned for industrial use. The remaining 60 acres will need to be rezoned, Versailles mayor Brian Traugott told the Lexington Herald Leader last week.
Richmond Baking bills itself as the oldest family-owned cookie and cracker bakery in the United States. It opened in 1902.
0
1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
