Osmundson Manufacturing Company is planning to invest $12.5 million for establishing a new facility in Graves County. Moreover, the investment will create 80 highly paid jobs over the next few years.

 150,000 square foot facility

Osmundson Manufacturing Company is an American company which specializes in making high quality disc, seeder and grain drill blades. The company has now announced to develop a new manufacturing facility in Kentucky. The company will purchase nearly 35 acres of land. In addition, the manufacturing company will utilize the planned investment to construct a 150,000 square foot facility. Significantly, the new facility will have two hot production lines. Alongside, the facility will also support cold workstations. Overall, the company will produce 20-inch and larger disc blades for both the agriculture and construction industries. Furthermore, the company intends to start construction in 2023 and expects it to complete by 2025.

“Osmundson is excited about the expansion of our business and the opportunities that come with this new facility and from being a part of the Mayfield community. We believe this expansion will set us up for another 120 years of success and we’re committed to building that together through the involvement and support of a great community.” Heather Bruce, president of Osmundson Manufacturing Company said in a statement.

Kentucky’s manufacturing outlook

Currently, Osmundson Manufacturing Company is employing nearly 100 employees at its headquarter in Iowa. However, they have selected Kentucky for their latest facility keeping in view its impressive manufacturing presence. Significantly, over 13% of Kentucky’s workforce is associated with manufacturing which is much higher than the national average.

KEDFA incentive agreement

Kentucky Economic Development Finance Authority (KEDFA) has approved a preliminary 15-year incentive agreement. They have signed this agreement under the Kentucky Business Investment program. Moreover, Osmundson Manufacturing Company will receive tax incentives of up to $1.5 million on an investment of $12.5 million. However, the manufacturing company has to meet the target of creating 80 full-time jobs for the Kentucky residents over 15 years.

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