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Site Location Partnership Client Announcement: Custom Resins to Create 40 Jobs with Henderson Plant Expansion

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  site location partnershipFrankfort, KY (February 2, 2016) – Site Location Partnership (SLP), a Dallas-based site selection advisory firm, announced that Custom Resins Inc., a producer of specialty nylon resins used for molded parts including automotive components, is doubling the size of its plant in Henderson and increasing capacity with an investment of more than $12 million.

Custom Resins plans to build a 100,000 square-foot addition to house up to eight compounding extruders and peripheral equipment. The project is expected to bring 40 new jobs. Construction could start later this year. Custom Resins General Manager Herb Rawlings said the region’s advantages of location, infrastructure, cost of energy and labor market played into the decision.

“Manufacturing jobs like the 40 that Custom Resins plans to create form America’s economic backbone. I’m proud to announce this project for Henderson County and Northwest Kentucky and I applaud Custom Resins for recognizing Kentucky’s pro-business climate and choosing to initiate this project,” Governor Matt Bevin said

“With the help of Kyndle and state economic development agencies, we were able to make this project happen,” Rawlings said. “Custom Resins has been making specialty nylon resins at the Henderson site for nearly 60 years. With this expansion we will be able to reach new markets and make new resins from sustainable, bio-based raw materials. We are excited to be able to expand on our commitment to our customers and the Henderson community.”

To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $700,000 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, Custom Resins was preliminarily approved by KEDFA for $200,000 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.

About Custom Resins Inc.
Custom Resins Inc. has been located in Henderson, Kentucky since 1957, making and producing a wide range of molecular weights and additive packages for nylon homopolymers and copolymers. Since then, this site has developed a solid reputation for quality and specialty products and gained more capabilities for higher molecular weights, in addition to polymerization and compounding capabilities.

About The Northwest Kentucky Alliance For Progress
The Northwest Kentucky Alliance for Progress is a partnership between three Kentucky economic development agencies representing the Owensboro, Henderson and Madisonville region. The region includes 10 counties with a labor market of over 1 million. The region’s location is less than 90 miles of the median population of the U.S. Northwest Kentucky offers an excellent quality of life, work-ready communities, incentives and great routes of transportation. The region’s uniqueness lies with its communities uniting to accomplish a shared goal of creating wealth and sustainability for the future.

About Site Location Partnership

Site Location Partnership (SLP) is a multi-disciplined advisory firm that enables the growth of businesses, communities and economies through its two primary consulting areas – corporate site selection and economic development. SLP’s Corporate Location Practice helps companies from industrial and commercial sectors select the optimal location for expansion, relocation or consolidation of business facilities. SLP’s Economic Development Practice assists various organizations in implementing business attraction strategies for new corporate investment, job creation and economic growth.

Media Contact

Ashley Freeman
Research Manager
Site Location Partnership
Phone: 972-874-7483
afreeman@sitelocationpartnership.com
http://www.sitelocationpartnership.com
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