FRANKFORT, Ky. (Dec. 21, 2016) – Gov. Matt Bevin today announced Performance Feeds LLC, a manufacturer of nutritional feed products for cattle, will relocate its primary production facility from Tennessee to Bowling Green with a nearly $2.3 million investment expected to create 30 full-time jobs.
“We are grateful for Performance Feeds’ decision to relocate its primary production facility from Tennessee to Bowling Green,” said Gov. Bevin. “Performance Feeds has built a reputation as a dependable provider of nutritional cattle feed for nearly 15 years. It’s a testament to our southcentral region, booming agriculture industry and the Commonwealth as a whole that the company selected Kentucky in its search for a strong workforce and an environment supportive of future growth.”
The company will move production from Red Boiling Springs, Tenn. to Warren County to increase capacity and output, tap into the region’s strong workforce and reduce transportation costs.
Tony Ferguson, company owner and founder, said he decided in October to expand operations to southern Kentucky.
“The diverse workforce, infrastructure and vast cattle numbers in the region are only a few of the reasons for selecting Bowling Green, Ky. for our state-of-the-art feed and mineral production facility, grain elevator and storage facility,” Ferguson said. “Additionally, the tremendous cooperation from the state, county and city officials aided in our management team’s decision to move into this new venue. We look forward to this experience and the opportunity to serve the cattle producers of southern and western Kentucky in an area that we have not been able to effectively reach in the past.”
Performance Feeds began operation in 2002 in Red Boiling Springs, Tenn. when Ferguson realized the need for a dependable source of nutrition for his own cattle operation. With the company, he sought to develop a line of feed products offering low cost and dependable customer service. Today, the operation includes 11 locations spanning three states.
Sen. Mike Wilson, of Bowling Green, said the arrival of Performance Feeds is a reflection on the community’s business environment.
“Thanks to Performance Feeds for selecting Warren County for this new investment of nearly $2.3 million,” Sen. Wilson said. “Anytime a company can bring 30 new jobs to your community, it obviously is a testament to the type of business-friendly climate in Bowling Green. Thanks to the Cabinet for Economic Development for their work in attracting this new investment, and we wish Performance Feeds all the best of luck.”
Rep. Michael Meredith, of Brownsville, praised the company for its decision to relocate to Kentucky.
“I want to congratulate and thank Performance Feeds on their newest investment,” Rep. Meredith said. “Performance Feeds’ commitment to our community will both stimulate our local economy and continue the growth of our region. I wish them great success as they serve the agriculture community in Southcentral Kentucky and look forward to seeing their future accomplishments.”
Bowling Green Mayor Bruce Wilkerson offered the company congratulations on its announcement.
“Bowling Green’s businesses are as diverse as the many people that work here,” he said. “We are excited to celebrate the success of a company like Performance Feeds in our community and congratulate them on the expansion of their facility on Louisville road.”
Warren County Judge-Executive Mike Buchanon said Performance Feeds will build upon Bowling Green’s deep agricultural ties.
“Our community and region has had and continues to have a strong agriculture industry,” Judge Buchanon said. “Warren County is a great location for many types of industry and we are excited to announce this expansion project with Performance Feeds as they continue to grow their footprint across the southeast United States.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in December preliminarily approved the company for tax incentives up to $300,000 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.
Additionally, KEDFA approved Performance Feeds for up to $40,000 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.
Performance Feeds also 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 Performance Feeds, visit www.performance-feeds.com.
A detailed community profile for Warren County can be viewed at http://bit.ly/WarrenCoKY.
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.