More Than A Bakery, LLC, an extension of Indiana-based Richmond Baking Co., plans to build a $57.1 million facility in Versailles, KY. The 250,000- to 300,000-square-foot facility will employ 310 people and produce cookies, crackers and other items by contract for major food brands and retailers.
Construction is expected to start this summer and the facility is scheduled to be operational by the end of 2017. The facility will be built on more than 100 acres to allow for future expansion. More Than A Bakery will be 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, IN in 1902 which produced cookies, breads and cakes. The Quiggs grew the company nationally adding operations in Richmond, IN 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.
“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,” said Governor Matt Bevin. “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.”
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, which offers companies 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.
“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.”
Relocating or Expanding Your Business In Kentucky
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