KY: Isopure Corp. to Invest $5.3M to Expand in Simpsonville & Add 30 Jobs
7 May, 2015
Governor Steve Beshear announced that Isopure Corporation plans to grow its operations in Shelby County.
Isopure, which designs and manufactures medical devices for dialysis patients, will create 30 new, full-time jobs and invest $5.3 million in the Commonwealth.
“This is another example of a Kentucky company experiencing exponential growth,” said Gov. Beshear. “The fact that Isopure is more than doubling its workforce shows that companies here are finding unparalleled success. I want to congratulate Isopure and thank its leaders for bringing more high-paying jobs to the region.”
Isopure plans to build a new 56,000-square-foot facility in Kingsbook Commerce Park in Simpsonville. The facility will support the company’s receiving, manufacturing and national shipping operations. The building is expected to be completed early next year.
The growth is a direct result of a research and development project upgrading two of Isopure’s five FDA-registered devices the company manufactures. The project began in 2012, which resulted in the most technologically advanced devices available for use in chronic kidney disease treatment. These devices will be manufactured in Simpsonville and shipped all over the country.
“Isopure is extremely excited about the support Frankfort and Shelby County are providing to increase our manufacturing facility and add new employees,” said Kevin Gillespie, president and CEO of Isopure. “Kentucky has been a great home for Isopure. We have enjoyed the support of Simpsonville Mayor Steve Eden and the city council as we continue to grow. This expansion will not only help with new jobs and advanced training for manufacturing the devices, but will also allow Isopure to increase its supply of devices to facilities treating patients with kidney disease.”
One of the reasons the Isopure chose Kentucky is because of its central location to large population areas in the United States, such as New York, Chicago, Houston and Miami, which is important to the company as it installs its equipment. Replacement parts can easily be shipped from Simpsonville to anywhere in the United States, utilizing the UPS Worldport Hub in Louisville.
Since 1996, Isopure has manufactured and installed medical devices to meet the special challenges of dialysis clinics. This specialized equipment is manufactured in Simpsonville and installed in all 50 states. The Simpsonville operation currently employs 22 people.
“It is always exciting when a company that is already located in Shelby County decides to expand and provide more jobs for our community,” said Rep. Brad Montell, of Shelbyville. “Isopure’s decision to double its workforce speaks volumes about the quality of employees and the outstanding business climate we can offer to new and existing companies.”
“Isopure has been an asset to our community for many years,” said Simpsonville Mayor Steve Eden. “We are excited that this expansion and the new jobs created will remain in the city of Simpsonville. We look forward to many more productive years with Isopure in our community.”
“Isopure has demonstrated its commitment to the health and well-being of patients throughout the United States, and with this expansion, the company continues to show it’s committed to Shelby County,” said Shelby County Judge-Executive Rob Rothenburger.
To encourage the investment and job creation in Simpsonville, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $120,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also approved the company for tax incentives up to $180,000 through the Kentucky Enterprise Initiative Act. The program allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
In addition, Isopure is eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no cost recruitment and job placement services, reduced cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 4,100 Kentucky companies.
“A company is only as strong as its employees, and Isopure is no exception,” said Gillespie. “The fact that the Kentucky Skills Network is available to help train new employees is very important to Isopure.”
For more information on Isopure Corporation, visit www.isopure.com
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter. Watch the Cabinet’s “This is My Kentucky” video on YouTube.
A detailed community profile for Simpsonville (Shelby County) can be viewed here.