Stanley Black & Decker, Pilkington among expanding companies

Date: 3 October 2011
The Kentucky Economic Development Finance Authority board approved tax incentives for companies, including Pilkington North America and Stanley Black & Decker, that are considering new investments in the state at its monthly meeting Thursday.

The approval of tax incentives outlines the state's commitment to a project should it occur in Kentucky.

In general, when a company accepts the tax incentive, it can keep that amount of money, which it would otherwise pay in taxes, assuming it fulfills the terms of the deal. Here are selected board preliminary approvals, unless otherwise noted:

  • Pilkington North America in Versailles, $1.1 million to expand its factory that produces glass for the automotive and building markets. The company estimates the expansion will cost $55.3 million. It is expected to add 56 jobs that pay an average hourly wage of $17, including benefits. The company was also approved for an additional $100,000 in tax incentives under a different program.

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