Cabinet for Economic Development
Governor Beshear Announces Location of Metalworks Recycle-Reload and Expansion of Owl’s Head Alloys in Bowling Green
New and expanding manufacturing projects to create50 new jobs, invest more than $5.1 million
BOWLING GREEN, Ky. (March 2, 2010) – Gov. Steve Beshear today joined community and business leaders in Bowling Green to announce two economic development projects: the location of Metalworks Recycle-Reload and the expansion of Owl’s Head Alloys. The new and expanding manufacturing projects will create a combined 50 new jobs and represent a more than $5.1 million investment in the Commonwealth.
“I’m proud to welcome both the expansion of Owl’s Head Alloys and the startup of Metalworks Recycle-Reload right here in Bowling Green,” said Gov. Beshear. “These environmentally friendly projects will create dozens of new job opportunities in South Central Kentucky and provide a significant boost to the local economy.”
Established in 2002, Owl’s Head Alloys is a state-of-the-art secondary aluminum recycling facility receiving and shipping metal across the United States. The company will add 12,000 square feet to its existing 48,000 square-foot operation, located in the South Central Industrial Park, for the installation of an additional smelting furnace. The expansion project will result in 30 new jobs and a $3 million capital investment.
Metalworks Recycle-Reload is a new company, established for the processing, packaging, shipping, receiving and purchasing of all types of non-ferrous metals. The company will lease a 30,000 square-foot facility next to Owl’s Head Alloys in the South Central Industrial Park. The startup project will create 20 new jobs and represents a capital investment of more than $2.1 million.
“We are very excited for today’s announcement and for this opportunity to create new jobs in South Central Kentucky,” said David Bradford, president of Owl’s Head Alloys and Metalworks Recycle-Reload. “We appreciate the support of the Commonwealth and the Bowling Green Area Chamber of Commerce during this project, and we look forward to a long, successful tenure in this community,”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Owl’s Head Alloys for tax benefits up to $400,000 through the Kentucky Business Investment program. The incentive can be earned over a 10-year period through corporate income tax credits and wage assessments. KEDFA also preliminarily approved Metalworks Recycle-Reload for up to $500,000 in tax incentives through the Kentucky Business Investment program.
“It’s another great day in Bowling Green and Warren County when we can announce the creation of more jobs in the community,” said Bowling Green Mayor Elaine Walker. “This is just another example of companies that have found this region is a great place to do business and have decided to expand their operations and their investment."
“Warren County congratulates Owl’s Head Alloys and Metalworks Recycle- Reload on their joint announcement today,” said Warren County Judge-Executive Michael O. Buchanon. “We appreciate their commitment to creating new jobs and investing in our community.”
A community profile for Bowling Green can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=067. More information about Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com.