January 11, 2024 - United States Of America
January 11, 2024 - United States Of America
The substantial capital investment has been allocated to developing a 75,000-square-foot manufacturing centre, equipped with a cutting-edge carded nonwoven production line. This addition will enhance the company's manufacturing capabilities, adding over 12,000 annual metric tons of capacity for HVAC filtration media and hygiene fabrics.
Initially commenced as a $10.7 million investment in 2021, the project has seen considerable growth in scale, the Kentucky government said in a press release.
This new facility is not just a significant boost for WPT but also for the wider Kentucky community. The creation of 35 quality manufacturing jobs will strengthen the local job market, and the increased production capacity is set to bolster the domestic supply chain for these products, benefiting numerous other finished product manufacturers in Kentucky.
To foster this investment and job creation, the Kentucky Economic Development Finance Authority played a pivotal role. In May 2021, it preliminarily approved an incentive agreement with WPT Nonwovens under the Kentucky Business Investment programme. This agreement provides the company with the opportunity to retain a portion of the new tax revenue it generates by meeting its annual targets over the term of the agreement. Eligible incentives can be claimed against the company’s income tax liability and/or wage assessments, offering a significant boost to WPT’s growth and contribution to the community.
“There has never been a better time to grow your business here in the commonwealth and take advantage of the many unique resources this great state has to offer,” said Kentucky governor Andy Beshear. “WPT is a homegrown success story showing the world that manufacturing is thriving in Kentucky. I am excited to see the company continue to grow here in Ohio County. I want to thank WPT’s leadership for their continued investment in the commonwealth and congratulate them on this exciting next step as a company.”
: “As WPT Nonwovens Corp embarks on this new chapter of growth, we applaud their dedication to providing outstanding products and positive contributions to our business community. This expansion signifies their success and brings more opportunities for Ohio County’s growing manufacturing ecosystem. The local business landscape is thriving, and WPT Nonwovens Corp. continues to play a pivotal role in its vibrancy,” said Jason Chinn, executive director of the Ohio County Economic Development Alliance.
“Congratulations on this remarkable expansion! WPT Nonwoven Corp’s commitment to quality, customer satisfaction and community engagement laid the foundation for this commendable achievement, and we look forward to their continued success and industry excellence in the years ahead,” said Beaver Dam mayor Paul Sandefur.