Packaging manufacturer for the food service industry Anchor Packaging has announced plans to invest more than $7.6m in order to establish operations in Rockcastle County, Kentucky, US, creating 150 new jobs.
According to the company, the 165,000ft2 Rockcastle County facility adds to the 1.3 million ft2 of production and warehouse space it operates across the US.
Kentucky Governor Steve Beshear said, "One hundred and fifty new jobs and a $7.6 million investment will have a profound impact on the Rockcastle County area and will help build a more productive future for the community and Anchor Packaging."
The Kentucky Economic Development Finance Authority has preliminarily approved tax incentives of up to $4m for the company through the Kentucky Business Investment program, in a bid to encourage the investment as well as job creation in Rockcastle County.
With the incentives, the company can keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting targets pertaining to job and investment.
Anchor Packaging manufactures packaging for merchandising prepared ready-to-heat meals in supermarkets and restaurants.
