Osmundson Mfg. locating in Graves County, creating 80 jobs
FRANKFORT, Ky. (KFVS) - Osmundson Mfg. Co. will locate a new facility in Graves County, Ky., with a $12.5M investment that will create 80 quality Kentucky jobs over the coming years.
The company’s investment will include the purchase of nearly 35 acres to construct a 150,000-square-foot facility, which will house two hot production lines and support cold workstations that will produce 20-inch and larger disc blades for both the agriculture and construction industries. Construction on the building is scheduled to begin in 2023 and is expected to be completed by 2025.
Osmundson Mfg. Co.’s investment and planned job creation furthers recent economic momentum in the commonwealth, as the state builds back stronger from the effects of the pandemic.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.5M in tax incentives based on the company’s investment of $12.5M and annual targets of:
- Creation and maintenance of 80 Kentucky-resident, full-time jobs across 15 years; and
- Paying an average hourly wage of $36.07 including benefits across those jobs, and an average base pay of $21.74 not including benefits.
In addition, Osmundson Mfg. Co. can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
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