Christian Fiscal Court approved a tax incentive program for a proposed expansion at Stanley Engineered Fastening in Hopkinsville at its first meeting of November Tuesday morning.
South West Kentucky Economic Development Council Executive Director Carter Hendricks says Stanley has already received preliminary approval for state incentives and the expansion would create 49 new jobs with an average starting wage of about $24 per hour.
Magistrates unanimously approved the uniform incentive program that’s been given to other industries—a rebate of 90 percent of new property tax revenue created by the expansion for the next 15 years. Hendricks says the expansion could open late next year or early 2022.
PADD Associate Director Amy Frogue says up to $200,000 in additional funds is being made available to drug treatment centers through the CARES Act and the Trilogy Center is using Christian Fiscal Court as a pass-through agency to apply for funds to reimburse any additional expenditures created by the pandemic.
As is customary, Christian Fiscal Court will only meet once in December—Wednesday December 16 at 8:30 a.m.