KY: Genova Products Inc. Locates 125-Job Plastic Pipe Co. in Paducah
1 Oct, 2014
Governor Steve Beshear joined company officials and local leaders to announce Genova Products Inc. is establishing operations in Paducah.
Genova, which manufactures PVC pipe and fittings, is expected to create 125 new jobs and invest $4.9 million into the project.
“This is an outstanding boost to the economy in Paducah and the Commonwealth,” said Gov. Beshear. “Genova is a highly successful global firm, and we couldn’t be more excited about the 125 professional jobs it will create in western Kentucky. The choice to locate here says a lot about our business-friendly climate, ideal location and valuable workforce. We look forward to a continued and successful partnership with Genova and are pleased to welcome them to Kentucky.”
Genova makes plumbing and building materials, mostly from vinyl. The company is leasing a 100,000-square-foot factory that once housed Infiniti Plastic Technologies Inc. The company began operations at the facility last month and currently employs 15 people. Genova chose Paducah due to available land, low electricity costs and rail access.
“We are very excited about the opportunities that lie ahead for us in a partnership with the city of Paducah,” said Mike DeBoer, president of Genova Products. “This location and state-of-the-art facility provide us with a strategic opportunity to expand our production and distribution capacity to support the future growth initiatives underway at Genova. We have found the people of Paducah a delight to work with and are certain both parties will mutually benefit from this alliance.”
Genova has been making vinyl pipe and fittings for professional and do-it-yourself plumbers since 1962. The company expanded into vinyl gutters and fencing and now has a product line that includes vinyl downspouts, decks and rails; drinking water and sanitary systems for boats and RVs. Its products are sold at Ace, Blish-Mize, True Value and Do It Best hardware stores.
Genova was the first company to bring plastics into the plumbing industry in North America. The company currently has a total of five factories in Michigan, Minnesota, Indiana, Nevada and Texas and two warehouses in Indiana and Texas. Genova also has a location in Lithuania.
“This is really great news for our community, and it speaks volumes about our second-to-none workforce and quality of life,” said Rep. Gerald Watkins, of Paducah. “I want to thank Genova Products for choosing Paducah, and I want to thank Gov. Beshear and our local and state economic development officials for their work in making this announcement possible.”
“It is promising to see a company like Genova recognizing the opportunity to expand in our community, said Sen. Bob Leeper, of Paducah. “We welcome them and look forward to making their experience in McCracken County a positive one.”
“I am pleased that with hard work, focus and diligence, we have found an ideal fit to create jobs in our building formerly occupied by Infiniti,” said McCracken County Judge-Executive Van Newberry. “The building was constructed to create at least 100 jobs in the plastics industry and that’s exactly what Genova is proposing to do. Genova was founded more than 50 years ago and we hope to create a partnership that will last for Genova’s next 50 years.”
“Genova is a win-win for our community,” said Paducah Mayor Gayle Kaler. “This long-standing, family-owned company will create jobs in Paducah, be a sizable customer for Paducah Power, utilize the Paducah & Louisville Railway to transport inbound materials and create a positive cash flow stream to the city and county. The city is pleased to partner with the state, county, Paducah Economic Development and our other partners to make this deal happen.”
To encourage the investment and job growth in McCracken County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1 million 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 Genova Products Inc., visit www.genovaproducts.com
A detailed community profile for Paducah (McCracken 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.