FRANKFORT, Ky. (Jan. 28, 2016) – Governor Matt Bevin today announced that GreenTree Forest Products Inc., an Appalachian hardwoods producer in Wallingford, will add 10 full-time jobs with a $2.2 million investment for equipment upgrades at its Fleming County facility.
“I am thrilled to announce that GreenTree Forest Products Inc. is investing more than $2 million in Kentucky and adding 10 full-time jobs to our local economy,” said Governor Bevin. “It is a testament to the quality of Fleming County’s workforce and further indication that Kentucky is open for business. I applaud this home-grown success story.”
For its sawmill and pallet operation in Fleming County, GreenTree will purchase equipment including a 7-foot line bar resaw, a state-of-the-art 3D scanner and an optimized lineal edger, among other upgrades. The facility currently produces 8 million feet of Appalachian hardwood annually. The company expects the investment will increase production by 30 percent. GreenTree also anticipates the new equipment will save the company $220,000 per year in production costs.
“Our family has deep roots in Rowan and Fleming counties. We are a third generation lumber family, born and raised in eastern Kentucky,” said GreenTree Co-Owner James Wells. “Our family has been in the lumber business since 1954 and we just celebrated our 25th year of business at our Fleming County location.
“We are proud to be a part of the business community not only in Kentucky, but in Fleming County as well,” Wells added. “A lot of blood, sweat and tears have been put in to our business. That, combined with the support of our families, it has become what it is today. It is amazing to look back and see where we started, where we have come and where we are going! This investment will prepare us for many years to come as we look toward the future.”
GreenTree, a Wallingford business, currently employs 45 full-time workers. GreenTree is owned and operated by David Wells and his three children, James, Greg and Michelle. David’s father, J.C. Wells, along with his three other sons, set up and ran his first Corley sawmill on their family farm in 1954. That operation grew into what is now Valley View Hardwoods in Morehead.
“We are pleased to welcome this new investment on behalf of GreenTree Forest Products in Fleming County,” said Sen. Steve West, of Paris. “The $2.3 million investment for equipment, along with the 10 new jobs it aims to create, will be huge for the local economy. We appreciate all those who helped with this project, as it is encouraging to see a successful local business rewarded for its hard work.”
“This is great news for Fleming County and especially those families who will benefit from these new jobs and investment,” said Rep. Mike Denham, of Maysville. “Kentucky plays a major role among the states when it comes to hardwood production, and companies like GreenTree Forest Products are a key reason why. I want to thank them and our economic development leaders for working together to make this announcement possible.”
“We are delighted that GreenTree Forest Products Inc. is expanding their production operations here in Fleming County,” said Fleming County Judge-Executive Larry Foxworthy. “The Wells’ families, owners of GreenTree Forest Products Inc., are one of the most widely known and well respected names in the hardwood industry. Their company has played a very important role in this area’s economy for many years and with the addition of more new jobs. This proves their commitment, investment and dedication to our region and is very positive for our economic outlook.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $200,000 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, GreenTree is eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.
For more information on GreenTree, visit www.GreenTreeForest.com.
A detailed community profile for Fleming County can be viewed here.
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 2015 totaled a state record $5.1 billion, spurring more than 16,000 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.