Vanderbilt Chemicals Plans $13.7 Million Expansion in MurrayKAM
Gov. Matt Bevin today announced Vanderbilt Chemicals, LLC will invest $13.7 million to increase the output of its Calloway County facility, which produces additive compounds for numerous industries.
“This growth by Vanderbilt Chemicals is evidence that a key Kentucky industry continues to flourish,” said Gov. Matt Bevin. “In today’s world, the chemicals industry fundamentally supports our daily lives, and Kentucky is proud that companies like Vanderbilt – a member of our corporate community since 1969 – choose to locate and prosper here. I wish the company well going forward and hope to see even more growth in the future.”
Vanderbilt’s expansion in West Kentucky includes the addition of a new spray drying system and a new building to house this equipment. The facility provides dried, purified and finished smectite and bentonite clay used in pharmaceutical, personal care, agri-science, ceramics, household items and other products. Company executives expect to complete the project in early 2019. Currently, the company employs 97 people at the Murray facility.
“Vanderbilt Chemicals, LLC has long enjoyed being a part of this great and growing community,” said Richard Davis, vice president at the Murray operation. “The support from local officials, neighbors and the commonwealth has been an important part of the decision to further expand our operations in this area and provide additional employment opportunities for people in our area.”
Vanderbilt Chemicals, founded in 1916 and headquartered in Norwalk, Conn., manufactures and resells chemicals for the rubber, plastics, paint, paper, petroleum, personal care and other minerals industries. Vanderbilt has an additional manufacturing facility in Connecticut and mining operations in Arizona, Nevada, New York, North Carolina and South Carolina.
The chemicals industry in Kentucky employs 15,000 people full-time at nearly 200 production sites across the state. This year through June, the industry announced more than $100 million in new investments.
Sen. Stan Humphries, of Cadiz, noted the company’s relationship with the local area.
“I would like to congratulate Vanderbilt Chemicals, which has been a community partner in Murray for a number of years, on this new multimillion dollar expansion. I look forward to the company’s continued success in Murray and wish its leaders the best in future endeavors.”
Rep. Kenny Imes, of Murray, said growth of companies like Vanderbilt contributes to the community’s overall quality of life.
“Any time a company invests a large sum of money, like nearly $14 million, it is indicative of the positive business environment in the area. I’m proud to continue working to attract this exact type of investment to Murray and our surrounding communities, and to bring more jobs to support families and to make our region the best place to live and raise a family.”
Murray Mayor Jack Rose praised the company’s professional practices.
“Long before I became mayor of Murray, I have known that Vanderbilt is one of those companies that quietly goes about the business of being the best they can be,” Mayor Rose said. “This investment in new equipment is a testament to their confidence in the labor force we have here in Murray and the surrounding area. We need more and better companies like Vanderbilt in West Kentucky.”
Calloway County Judge-Executive Larry Elkins said Vanderbilt has been a great match for the community’s workforce.
“Vanderbilt Chemicals has always been a really great company to work for and we are proud to see them continue to invest in Calloway County,” Judge-Executive Elkins said. “Like many family owned companies, they treat their people well and are a responsible corporate citizen that also works very hard to carefully manage their environmental footprint. Companies like these understand the great workforce that we have in West Kentucky.”
The Kentucky Economic Development Finance Authority (KEDFA) in May approved Vanderbilt for up to $100,000 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.
In addition, Vanderbilt can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal year 2016, the Kentucky Skills Network provided training for nearly 95,000 Kentuckians and 5,000 companies from a variety of industry sectors.
For more information on Vanderbilt Chemicals, visit www.VanderbiltChemicals.com.
A detailed community profile for Calloway County can be viewed at http://bit.ly/CallowayCo.
Information on Kentucky’s economic development efforts and programs is available at ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter. Watch the Cabinet’s “This is My Kentucky” video on YouTube.