Governor Beshear Announces Expansion of Apace Packaging in Monroe County

Contact:
Jessica Thompson, Communications Director
270-781-3200; jessica@bgchamber.com

FOUNTAIN RUN, KY - Gov. Steve Beshear today joined community leaders and officials from Apace Packing in Fountain Run, Ky., to announce the company will expand its Monroe County operations.  The family-owned, pharmaceutical package and distributor will create 35 new, full-time jobs and invest $5.15 million as a result of the project.

"The expansion of Apace, a family-owned and operated company, is a great success story for Monroe County," said Gov. Beshear. "The creation of almost three dozen new jobs and a capital investment of more than $5 million will have a positive impact on the local community.  I am delighted that the Commonwealth could help make this project possible"

Apace, which was established in 2005, will add approximately 17,000 square feet to its existing 35,000-square-foot facility to incorporate a new packaging line, maintenance shop and office space.  The plant, located at 12954 Fountain Run Road, currently employs 43 people.

"Apace is proud to be a part of Monroe County," said Darren Shirley, Apace president. "We've been embraced by the community, and we are very impressed by the quality of the workforce and the low business costs that we enjoy here. I'm confident that our company's decision to expand will lead to even more success here."

The Kentucky Economic Development Finance Authority preliminarily approved Apace for tax incentives up to $840,000 through the Kentucky Business Investment program.  The performance-based incentive allows the 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. 

"Apace continues to be a good corporate neighbor in Monroe County by providing highly skilled, high-paying jobs to our community," said Rep. James Comer of Tompkinsville. "Their decision to invest more than $5.15 million and hire 35 more workers as part of their expansion is a reflection of the quality of workforce in Monroe County, and the high quality of life available to those who live and work in the region."

"On behalf of Monroe County, I congratulate Apace on their expansion announcement today. We're grateful for this company's continued commitment to our community," said Monroe County Judge-Executive Tommy Willett. "We thank the Bowling Green Area Chamber of Commerce and our partnership with the other counties in the South Central Kentucky region as well, because a partnership like ours is invaluable to economic growth."

"Fountain Run also thanks Apace on their decision to expand the local facility," said Fountain Run Mayor Steve Eaton. "Their investment of more than $5 million and announcement of 35 new jobs brings great excitement to our community. We congratulate Apace and look forward to a long relationship with them."

Monroe County participates in the Bowling Green Area Chamber of Commerce's Menu of Services program, which markets the 10 counties included in the Barren River Area Development District. Because of the partnership between the Chamber and Monroe County, the Chamber's economic development team supported Apace, Mayor Eaton, Judge Willett and other local officials in the expansion project process, collaborating on expansion plans and incentive requests.

Chamber Board of Directors Chairman Rodney Rogers said, "As part of our commitment to the entire South Central Kentucky region, we are proud to work with regional partners on their projects and to assist them with any step in the process. This is the second economic development announcement that we've assisted with in Monroe County, and we look forward to continuing to build a partnership with this community."

With the addition of 35 new jobs to its current employment base of 43, Apace's expansion will create an additional 16 indirect jobs and a total economic impact of $9.8 million.

This is the fourth economic development project that the Chamber has announced in during 2011. To date, the economic development announcements for 2011 will create more than $163 million in capital investment and 673 new jobs. The Chamber played a significant role in the following projects*:

For more information on Apace, visit www.apacepak.com.  

A detailed community profile for Fountain Run (Monroe County) can be viewed at www.monroecounty.southcentralky.com.

*Economic development projects occur over a three-year period.

About the Bowling Green Area Chamber of Commerce:
Incorporated in 1935, the Bowling Green Area Chamber of Commerce is a 5-Star Accredited Chamber by the U.S. Chamber of Commerce and was named the 2009 Chamber of the Year by the American Chamber of Commerce Executives. As the fourth largest chamber in Kentucky, the Chamber serves as a premier business advocate for its more than 1,300 partners and is the driving force for economic development in South Central Kentucky. Its primary goals are to promote growth and success in the business community, reaching its small business partners and those in large industries alike. With leadership programs, governmental relations projects, educational initiatives and involvement opportunities, the Chamber aims to support the community and its neighbors in order to enhance the business climate and continue to grow the region.