Asian carp in western Kentucky have met their match. Gov. Steve Beshear announced Blue Shore Fishery LLC is locating a facility in Tri City.
Blue Shore, a manufacturer of healthy food products from Asian carp, is expected to create up to 66 new jobs and invest $1.3 million into the project.
“We welcome Blue Shore Fishery to the Commonwealth,” said Gov. Beshear. “Not only will the company be creating 66 jobs and investing $1.3 million, but also it will be adding to our overall exports. Exporting is big business, with Kentucky setting an all-time record last year with $27.5 billion in exports of Kentucky products and services.”
Blue Shore will catch Asian carp in the rivers and lakes throughout western Kentucky and process the carp in a former catfish processing plant off State Route 97. The 11,000-square-foot facility, located on 53 acres, will be operational this spring. The company also plans to add an additional 5,000 square feet of space.
“We are very pleased to be in Kentucky, where the environment for startup companies is tremendously supportive,” said Andre Raghu, CEO of Blue Shore Fishery. “We are looking forward to creating a new vision for the Kentucky Fishing industry. Generations of families across small towns in this great state once built a promising future on fishing. We greatly appreciate all of the help we have received from the Kentucky Innovation Network office at Murray State University and the Graves County Economic Development Corporation and look forward to developing strong partnerships locally, regionally and internationally.”
Blue Shore produces innovative, healthy food products from Asian carp. Its products are designed from old-world Asian staple recipes and contain high-quality fish and fresh local ingredients with no fillers, additives or preservatives. The company plans to sell to wholesale and retail markets in the U.S. and China.
Dr. Lan Chi Luu and John Crilly, two of Blue Shore’s owners, received assistance from the Kentucky Innovation Network Office in Murray. The Network, which consists of 13 statewide offices that support Kentucky’s small businesses, helped Luu and Crilly make connections for marketing and web development, finding access to capital and exporting.
Luu and Crilly also own another Asian carp company, Fin Gourmet, in Paducah. Luu and Fin Gourmet won the Kentucky Cabinet for Economic Development entrepreneur pitch competition in Murray last summer. As the regional winner, Luu presented the company to the Kentucky Angel Investors Network back in the fall.
To encourage Blue Shore’s investment and job growth in Graves County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
“This announcement is a win-win for western Kentucky and especially Graves County,” said Sen. Stan Humphries, of Cadiz. “The Asian carp is a problem for us, and Blue Shore Fishery will help deplete the Asian carp population while providing jobs and investment in the region.”
“We are all so excited and thankful that Blue Shore has decided to locate in Graves County,” said Graves County Judge-Executive Jesse Perry. “It is always a good day when any industry big or small has chosen Graves County as its home.”
A detailed community profile for Graves County can be viewed here.
To learn more about how the Kentucky Innovation Network helps small businesses, visit www.kyinnovation.com.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky. Watch the Cabinet’s “This is My Kentucky” video on YouTube.
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 2012 totaled nearly $2.7 billion with the creation of more than 14,000 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.