Kentucky Gov. Andy Beshear announced Wastequip, a manufacturer of waste handling equipment for customers throughout North America, will further the commonwealth’s effort to create jobs for all Kentuckians with the location of a new distribution center in Mt. Sterling. The new facility, a $7.28 million investment, is expected to create up to 100 full-time jobs.
“I am proud to welcome this new Wastequip facility in Montgomery County, and I look forward to the company’s continued growth in the commonwealth,” Gov. Beshear said. “Job creation, such as the 100 positions associated with this project, is the type of progress our administration will continue to push for in the years ahead. I want to thank Wastequip for its commitment to the Mt. Sterling community, our state and our skilled workforce.”
The new Wastequip Distribution Center is located at 200 Oak Grove Drive with nearly 100,000 square feet of space to store over 30,000 units of tarping equipment, OEM and aftermarket parts. The location will primarily support Pioneer and Go To Parts branded products, as well as house a shipping center and offices for corporate and customer service staff. Wastequip invested in the new location to centralize purchasing, customer service, inventory management and supply chain functions to enhance operating efficiency and provide space for growth in the future. The facility will accommodate Wastequip’s plans to expand aftermarket parts distribution, and is expected to be operational by July 2020.
“In every facet of our business, Wastequip always strives to better serve the needs of our customers,” said Marty Bryant, Wastequip CEO. “This new distribution center is a catalyst for centralizing our operations for more efficient shipping and enhanced customer service. As a Kentucky native, I am proud to support the economic development of Montgomery County, and we are excited that this investment will accelerate our strategic growth plans.”
Founded in 1989 and headquartered in Charlotte, N.C., Wastequip manufactures waste handling equipment, with an international network of manufacturing facilities. The company’s range of waste equipment, trucks and systems are used to collect, process and transport recyclables, solid waste, liquid waste and organics. Its brands include Wastequip, Toter, Galbreath, Pioneer, Mountain Tarp, Cusco, Go To Parts, Amrep and Accurate. Wastequip employs more than 2,000 people across 38 facilities in the US.
Sen. Ralph Alvarado, of Winchester, expressed gratitude for the company’s commitment to the community and state.
“It is always a privilege to announce new investments for Mt. Sterling and the surrounding Montgomery County area,” Sen. Alvarado said. “I am pleased to recognize Wastequip for their dedication to growing Kentucky’s local economies. I look forward to seeing the Kentucky Cabinet for Economic Development utilize the pro-business mindset championed by the majority caucus in previous sessions.”
Rep. David Hale, of Wellington, said the announcement reflects well on the local business community.
“This expansion is wonderful news for Montgomery County,” Rep. Hale said. “Creating 100 new jobs and reinvesting in this community proves that Wastequip recognizes that this area is the best place to live and work.”
Mt. Sterling Mayor Al Botts said the investment provides evidence of the community’s progress.
“The City of Mt. Sterling welcomes the news that Wastequip will be joining our wonderful community,” Mayor Botts said. “The jobs and opportunities that they will provide are so important to the economic success of this area. This is another indication that our community is trending in the right direction, and that great companies like Wastequip see Mt. Sterling-Montgomery County as a great place to invest in.”
Montgomery County Judge-Executive Wally Johnson said Wastequip has the county’s full support.
“We are thrilled that Wastequip has chosen our county to locate their new facility,” Judge-Executive Johnson said. “They have chosen one of the best locations in Kentucky and we want them to know we are here to help them succeed in every way we can. We know they will be a good corporate partner and citizen and we look forward to years of continued partnership.”
Sandy Romanesko, executive director of the Mt. Sterling-Montgomery County Industrial Authority and Chamber of Commerce, said the company will be a great addition to the local business sector.
“The Mt. Sterling-Montgomery County Industrial Authority and Chamber of Commerce are ecstatic to hear that Woodlands Industrial Park in Montgomery County will be the location for Wastequip,” Romanesko said. “We are here to assist in any way we can to ensure the success of Wastequip and look forward to adding them to our manufacturing community. We also want to thank Agracel for being so helpful through the process of securing this location for Wastequip.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.9 million in tax incentives based on the company’s investment of $7.28 million and annual targets of:
• Creation and maintenance of 100 Kentucky-resident, full-time jobs across 15 years
• Paying an average hourly wage of $27 including benefits across those jobs
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Wastequip can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
For more information on Wastequip, visit www.Wastequip.com.