📋 Tender Overview
Gov. Andy Beshearannounced HVAC Distributing LLC plans to create 175 full-time jobs in Graves County as it purchases a speculative building for a second location in the Hickory Industrial Park. While navigating the pandemics challenges we continue working to help companies create jobs for the future of Kentucky and our residents Gov. Beshear said. Growth of companies like HVAC Distributing serve as a reminder of the commonwealths ability to support a range of industries which are crucial in securing the states long-term economic future. I want to thank HVAC Distributing for its commitment to the commonwealth and the workforce in Graves County and the surrounding region.HVAC Distributings 7 million investment will purchase and outfit the 100000-square-foot spec building on CenTech Drive in Hickory. The new location will accommodate recent and anticipated market growth. The buildings proximity to the companys current operations in a 113000-square-foot facility on Remington Way will allow HVAC Distributing to better manage its growing inventory improve shipping speed and reduce operating costs.We are truly thankful for this opportunity that allows us to adapt quickly to growing market demand across our industry said Jason Ingram managing member of HVAC Distributing. Founded in Hickory in 2013 HVAC Distributing currently employs approximately 100 people. The family-owned business provides logistics support to its sister company Ingrams Water Air Equipment. In the past seven years it has grown to diversify its inventory expand capacity and boost employment. Currently the company distributes products throughout the U.S. for recognizable and rapidly growing brands including MRCOOL and GeoCool among others.HVAC Distributing is part of Kentuckys expansive logistics and distribution industry which includes more than 540 facilities statewide employing nearly 75000 people. Sen. Stan Humphries of Cadiz said the growth of existing industry helps ensure future economic health during a challenging time. This is great news for Hickory and all of Graves County Sen. Humphries said. Investments like this will have a noticeable impact here and I look forward to seeing this investment result in new jobs that will help the local economy and beyond. We have challenges ahead of us but we should be grateful to businesses like this that choose to invest in the people of Kentucky.Rep. Richard Heath of Mayfield said the commonwealth offers great opportunity for growing businesses like HVAC Distributing. Kentucky is a great state full of economic promises and potential. I am thrilled that HVAC Distributing LLC has decided to continue investing in Graves County Rep. Heath said. I look forward to the successful completion of this expansion as it will help provide economic opportunity for people and communities across Kentucky.Graves County JudgeExecutive Jesse Perry said the project will help drive growth within the community in the years ahead. I am so proud to see HVAC Distributing continue investing in Graves County and I look forward to seeing our beautiful county prosper for many years to come Judge-Executive Perry said. Ryan Drane president of Graves County Economic Development said the company is an ideal fit for the community.We couldnt be more excited to see yet another expansion by such a great company Drane said. The Ingram family and their employees are a true testament of hard work and never losing sight of your values. Our community is dedicated to assist them with their companys growth and we look forward to partnering with them again in the near future.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 1.75 million in tax incentives based on the companys investment of 7 million and annual targets ofCreation and maintenance of 175 Kentucky-resident full-time jobs across 15 years andPaying an average hourly wage of 20 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 andor wage assessments. In addition HVAC Distributing 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.
