Tuesday February 16, 2010
Company to create 33 new jobs, invest more than $1.6 million in the Commonwealth
Gov. Steve Beshear and Louisville Mayor Jerry Abramson today joined Grindmaster-Cecilware officials in Louisville to announce the expansion of the company’s 116,000 square-foot facility. Grindmaster-Cecilware anticipates creating 33 new, full-time jobs and will invest more than $1.6 million in the Commonwealth.
“Kentucky is pleased to have Grindmaster-Cecilware, a global company whose products are synonymous with quality, not only be a long-standing corporate citizen, but to grow its operation in the Commonwealth,” said Gov. Beshear. “The addition of 33 new jobs and a more than $1.6 million investment in the Louisville facility will provide an excellent boost to the community.”
Grindmaster-Cecilware manufactures a comprehensive line of quality beverage dispensing equipment for hot, cold, and frozen beverages and a complementary foodservice equipment line. The company markets their products to over 90 countries under the Grindmaster, Crathco, and Cecilware brand names, and has a qualified network of international distributors located across Asia Pacific, Europe and Latin America.
“As part of our continued strategy to further expand our innovative product offering and geographic reach, we believe our expansion of Grindmaster-Cecilware’s Louisville, Kentucky facility marks a pivotal step in the history of our company,” said Richard Moore, chief executive officer of the new Grindmaster-Cecilware group. “We expect to increase our manufacturing capabilities by adding additional production resources into the facility and increase its ability to produce a broader part of our product line. We will be expanding our Engineering team to increase our ability to produce new products and improve our manufacturing functions.”
The Kentucky Economic Development Finance Authority preliminarily approved Grindmaster-Cecilware for up to $600,000 in tax benefits under Kentucky’s newest incentive program, the Kentucky Business Investment Program. The incentive can be earned over a 10-year period through corporate income tax credits and wage assessments. The maximum annual approved amount to be earned by Grindmaster-Cecilware is $60,000.
“Grindmaster-Cecilware helps put smiles on people’s faces around the world — and a little bit of Louisville is served with every cup of coffee, tea and smoothie served from these quality machines,” said Mayor Abramson. “Grindmaster-Cecilware is another example of a Louisville company that has global reach.”
“Our economic development efforts are focused on retaining and growing jobs,” said Joe Reagan, president & CEO of Greater Louisville Inc. – the Metro Chamber of Commerce. “This is great news for Grindmaster-Cecilware and great news for Louisville.”
A community profile for Louisville can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=091. Information on Kentucky’s economic development efforts is available at www.ThinkKentucky.com.