Governor to Appear in Covington for Jobs Announcement
The Covington City Commission approved Tuesday night a job development incentive for Westpack, LLC, a company that intends to locate its operation inside a large facility in Latonia. Which facility is not publicly known at this time. Mayor Sherry Carran said that Kentucky Governor Steve Beshear will be in town for the announcement and that the news of the exact location will be announced later.
Covington's side of the company's incentive package is a one-percent rebate on its occupational license fee. "This business already has preliminary approval from the state for incentives," said assistant city manager Larisa Sims.
In September, a meeting of the Kentucky Economic Development Finance Authority included an agenda item about Wespack, describing it as a company that services the alcoholic beverage industry. The company was seeking $1.5 million in tax incentives that would be spread out over ten years and would be connected to the creation of new jobs.
At the time of the meeting in September, the project was expected to include 63 new jobs with an average hourly wage of $18. Carran confirmed Tuesday night that those numbers would still apply.
The proposed Westpack project at the time including the purchase of a space more than 125,000 square feet in size in addition to start-up costs, new equipment, and machinery.
It was described as a $4.5 million project ($3.1 million for equipment and $1.2 million for the building and improvements). Westpack applied for $1.5 million in tax incentives over ten years tied to new jobs.
Commissioners welcomed the idea of incentives for the new business. "Hard not to be in favor of more jobs," said City Commissioner Steve Frank.
"It's exciting to see more development in Latonia," City Commissioner Chuck Eilerman said.
Written by Michael Monks, editor & publisher of The River City News
Photo: Ritte's Corner in Latonia/RCN file