FRANKFORT, Ky. (Oct. 3, 2017) – Froedge Machine and Supply Co. Inc., which provides repair services to local industries, will invest $690,000 and create 12 full-time jobs to locate a new operation in Barren County, Gov. Matt Bevin announced today.
“Froedge Machine and Supply is a great example of Kentucky’s manufacturers who are a driving force behind our state’s growing economic success,” said Gov. Bevin. “By growing their CNC machining, tool-and-die and metalworking capabilities, Froedge will add even more momentum and resources to Kentucky’s economy. Their growth will open new opportunities in the market and we are grateful to them for establishing a second location in the commonwealth.”
Froedge will maintain its headquarters shop in Tompkinsville and locate its new facility in a 6,300-square-foot former machine shop just outside the Glasgow city limits on US 68. The new building will bring room to expand its CNC machine work, create opportunities for future growth and provide a location allowing easier access to the I-65 corridor to pursue new customers.
“We look forward to making Froedge Machine and Supply Co., Inc. more easily accessible to our customers in south central Kentucky,” said H. Tom Froedge, the company’s president. “We also value the partnerships of our customers as well as the state and local organizations that have helped us through this process.”
Wendall Froedge established the company in Monroe County as a machining and watch repair shop in 1962. He also sold industrial and agricultural supplies. The company since grew into a repair business for local industries. Specialties now include CNC machining, drilling, boring, cutting and honing, surface grinding, welding lathe, millwork, tool and die and lumber handling.
Sen. David Givens, of Greensburg, cited the company’s familiarity with the local workforce is a factor in its growth within the community.
“Froedge Machine and Supply Company knows the work ethic and skills of our southcentral Kentucky workforce,” Sen. Givens said. “The decision to expand their business in this same region reinforces that the climate is right to grow in Kentucky. I applaud Froedge and look forward to the company’s continued success.”
Rep. Steve Riley, of Glasgow, congratulated the company on its expansion, pointing to Froedge’s long history.
“Froedge Machine has been a Kentucky staple for over 50 years and we are so excited to have them in Barren County,” said Rep. Riley, who serves on the Economic Development and Workforce Investment Committee and is vice-chair of the Education Committee. “Thanks to pro-growth policy, manufacturing is making a tremendous comeback in the commonwealth. We are thrilled to see companies like Froedge growing and expanding in Kentucky.”
Barren County Judge-Executive Micheal Hale said the operation will provide great opportunities for the local workforce.
“Barren County welcomes Froedge Machine and Supply Co. Inc. to our industrial community,” Judge-Executive Hale said. “We look forward to working with Froedge Machine and Supply Co. Inc. to secure excellent job opportunities for our community and participation in the State Apprenticeship Program. We anticipate a very cooperative and supportive business relationship for many years to come.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in September preliminarily approved the company for tax incentives up to $100,000 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.
In addition, Froedge 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 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
For more information on Froedge, visit www.froedge.com.
A detailed community profile for Barren County can be viewed at http://bit.ly/BarrenCo.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2017 totaled a state record $9.2 billion, spurring more than 17,200 projected new jobs. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.