Cabinet for Economic Development
GOVERNOR FLETCHER ANNOUNCES KENTUCKY’S LARGEST FUEL ALCOHOL PRODUCTION FACILITY START-UP IN LOUISVILLE
FRANKFORT, KY— Governor Ernie Fletcher and Economic Development Cabinet Acting Secretary Gene Fuqua announced today For the People LLC, has selected Louisville’s Riverport Development Complex as its new home, making it Kentucky’s largest fuel alcohol production facility and sustainable energies complex. The local family corporation and Louisville based design and construction management firm rkm designz, inc. have successfully paralleled their efforts to achieve this goal.
“We are thrilled to have an innovative new company start operations in Kentucky,” said Governor Fletcher. “The fact that they chose to open this new venture in Louisville speaks volumes about the business climate and workforce their hometown area has to offer.”
“Making our final site decision to locate in Riverport was simple, as this project appeared ‘meant to be’,” commented rkm designz president, Kevin Milburn. “This $75 million project will have a huge impact on our community. Metro Louisville economic development leaders, along with the state of Kentucky, local businesses and the general community have embraced this futuristic vision as this will become one of the first urban based ethanol production facilities in the United States.”
The company plans to construct a new dry mill ethanol production facility to produce liquid ethanol biofuel from corn. They propose to acquire approximately 16 acres in the Riverport Industrial Park and construct a 60,000 square-foot facility. The project will create 60 new full-time jobs for the Metro Louisville area.
“This facility will ship the final liquid product with little if any transportation costs,” Wethington explains. “The remaining by-products of CO2 and DDG (dry distillers grains) produced during the processing stage are also recycled and sold as dry ice and premium feedstock.”
“It’s great that local entrepreneurs are investing in our community – and creating an alternate fuel for our state and our nation,” added Louisville Mayor Jerry Abramson.
“For The People is making a significant investment in our local economy by locating their cutting-edge facility in Louisville,” said Joe Reagan, President and CEO, Greater Louisville Inc. – The Metro Chamber of Commerce. “We look forward to supporting them as their business launches and prospers in our community.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved For the People LLC for tax benefits up to $1.2 million under the Kentucky Industrial Development Act (KIDA), an incentive program designed to attract and expand manufacturing operations in the state.
The project was also preliminarily approved by KEDFA to receive up to $400,000 in benefits under the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies making an investment of $500,000 or more in Kentucky to recoup Kentucky sales and use tax on the cost of construction materials, building fixtures and equipment used for research and development.
A community profile for Jefferson County can be found at http://www.thinkkentucky.com/edis/cmnty/cw/cw091/location.htm.
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The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2006 totaled more than $3.4 billion with the creation of over 18,200 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.thinkkentucky.com.