KY: More Than A Bakery to Employ 310 with Facility in Versailles
29 Feb, 2016
Governor Matt Bevin announced that More Than A Bakery, LLC, an extension of a century-old family business based in Indiana, plans to build a $57.1 million facility in Versailles.
More Than A Bakery, affiliated with Richmond Baking Co., would employ 310 people and produce cookies, crackers and other items by contract for major food brands and retailers.
“We celebrate the news that More Than A Bakery plans to make a significant economic impact in Woodford County and create a substantial number of jobs with its investment in a state-of-the art facility,” Gov. Bevin said. “I have a special appreciation for multi-generational family companies like Richmond Baking that built themselves from modest beginnings, and I am personally grateful to the Quigg family for this tremendous vote of confidence. Kentucky offers the business climate, infrastructure, resources and personalized services necessary for companies like theirs to succeed.”
More Than A Bakery shared its plans for a 250,000- to 300,000-square-foot building in Versailles with construction expected to start this summer and the facility operational by the end of 2017. The facility would be located on more than 100 acres to allow for future expansion. More Than A Bakery would represent Richmond Baking’s third world-class bakery and distribution operation.
“The company has needed this kind of additional space for some time now,” said Bill Quigg, president and member of the fourth generation of family ownership. “The Richmond plant is bursting at the seams and isn’t easily adapted for current production methods, and the Georgia facility has had 200 percent growth in two years. We want this new facility and our new employees to help us create a unique culture that will help everyone succeed both personally and professionally.”
The Quigg family purchased a neighborhood bakery in Richmond, Ind. in 1902 which produced cookies, breads and cakes. The bakery traces its beginnings back to 1855 with the opening of David Hoerner’s bakery. The Quiggs grew the company nationally adding operations in Richmond, Ind. and Alma, Ga. employing nearly 350 workers.
Throughout the decades, the company gained expertise in breading systems, dessert crumbs, ice cream inclusions, contract baking and packaging services. Richmond Baking’s customers include Fortune 100 food brands, grocery and convenience store chains, school cafeterias and national food-service companies.
“I am pleased that the Richmond Baking Company is adding a new facility in Versailles, which will create new job opportunities and provide a boost to the local economy,” said Sen. Julian M. Carroll, of Frankfort. “I welcome the company and look forward to a long and successful corporate partnership.”
“This is great news for our community and is poised to provide a major boost to our local economy,” said Rep. James Kay, of Versailles. “I have been proud to work with our state and local leaders to foster a business climate that makes investment like this a possibility. This speaks volumes about all that we and our workforce have to offer, and it is another example that Woodford County is open for business.”
“We have been working for a while to get these jobs into Versailles, and I am certainly pleased that we have reached this point, because this company has a great reputation of being family and community friendly,” said Versailles Mayor Brian Traugott. “I am committed to doing all I can to move this project forward and hope we can announce a groundbreaking soon.”
“We are delighted to be working with More Than A Bakery, LLC who wants to bring many jobs to Woodford County,” said Woodford County Judge-Executive John Coyle. “This project’s been over two years in the making and we believe Woodford County is the perfect location for their operations and families! We look forward to a long and prosperous relationship with this new company.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $8 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
Additionally, More Than A Bakery was preliminarily approved by KEDFA for $700,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
More Than A Bakery also 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 5,600 Kentucky companies.
A detailed community profile for Versailles (Woodford County) can be viewed here.
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.