KY: Castlen Welding & Manufacturing LLC to Expand in Owensboro
24 Oct, 2014
Governor Steve Beshear announced Castlen Welding & Manufacturing LLC plans to expand its operations in Daviess County.
Castlen, a manufacturer of material handling equipment for the fertilizer and grain industries, is expected to create up to 30 new jobs and invest nearly $3.9 million into the project.
“This is a prime example of a small, family-owned business finding success in Kentucky,” said Gov. Beshear. “I want to thank Castlen for its continued investment in the Commonwealth. Kentucky is proud to support this excellent company as it continues to grow and create more jobs in Owensboro.”
Castlen’s new facility will allow the company to expand its operation into the welding and manufacturing of conveyors, hoppers, conditioners, towers and bucket elevators. Located on U.S. Highway 60, it has 92 acres of industrial property with about 16,000 square feet of buildings. The property also has rail and river access, which will allow the company to purchase and transfer steel in larger quantities. The facility is expected to be operational sometime in 2015.
“We are very excited about the new expansion and the potential growth opportunities it will provide for our company as well as our community,” said owner Matt Castlen. “We also are very blessed to be able to expand so close to home right here in Owensboro. We are looking forward to the future months ahead of us with hopes of making a great impact in our city and our community.”
Castlen started the company with his wife Laura in 2008. In addition to manufacturing material handling equipment, Castlen erects and installs the equipment on-site. The company also builds grain storage tanks and liquid fertilizer facilities, and offers a wide variety of welding and custom fabrication services.
The company’s existing location on Iceland Road in Maceo, Ky. will still be used for custom fabrication and welding repair.
"I'm really proud of Matt Castlen for his work ethic, ingenuity and courage to expand his business,” said Sen. Joe Bowen, of Owensboro. “He is the perfect example of how hard work, innovation and faith in the free enterprise system pays dividends. We’ve made numerous improvements to our quality of life here in the community, but it takes jobs to support these improvements. Matt Castlen has done his share.”
“I want to thank Castlen Welding & Manufacturing for taking this step and adding these much-needed jobs,” said Rep. Jim Glenn, of Owensboro. “I also appreciate the hard work by our local and state economic development officials and the incentive programs we have in place. Those play a critical role in making expansions like this possible.”
“I’m really pleased to see Castlen Welding & Manufacturing decided to invest further in our community and provide these new jobs,” said Rep. Tommy Thompson, of Philpot. “Today’s announcement is further proof that our community is open for business and committed to growth. It’s also another sign that our workforce is truly second-to-none.”
“We are pleased to know that Castlen Welding & Manufacturing will be investing $3.9 million into the Highway 60 East location and purchasing additional equipment in order to diversify the business,” said Owensboro Mayor Ron Payne. “The creation of 30 new jobs for our community residents is wonderful news.”
“What a pleasure it is to say one of our own companies is investing millions into a site that has been vacant for so long,” said Daviess County Judge-Executive Al Mattingly. “Castlen Welding & Manufacturing is demonstrating its confidence in our local economy and loyalty to our community by expanding within Daviess County and creating an additional 30 jobs. The value these jobs bring to our local economy is significant. Small businesses, such as Castlen, play a large role in Daviess County’s growth.”
To encourage the investment and job growth in Daviess County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $350,000 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.
For more information on Castlen, visit www.castlenwelding.com
A detailed community profile for Owensboro (Daviess 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