Kentucky State Seal

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*OFFICE OF GOVERNOR ANDY BESHEAR*

*COMMONWEALTH OF KENTUCKY*








*FOR IMMEDIATE RELEASE*




*Contact:*?

*Crystal Staley*
*502-545-3714*

*Brandon Mattingly
502-782-2006*






*Gov. Beshear: Gracious Living KY To Expand Butler County Operations With Nearly $9.8 Million Investment Creating 50 Jobs*

"Headquarters expansion will allow company to manufacture patio furniture and more"

*FRANKFORT, Ky. (April 9, 2024) *? Today, Gov. Andy Beshear highlighted further growth in Kentucky?s manufacturing industry as Gracious Living KY, a manufacturer and distributor of consumer products, announced plans to expand its Butler County operations with a nearly $9.8 million investment creating 50 new full-time jobs.

?The momentum we are experiencing across the commonwealth is not possible without growth from our largest industry,? said *Gov. Beshear*. ?Manufacturing has long been essential to Kentucky?s economy, and with continued investment from companies like Gracious Living KY, we are setting up the state for long-term success. I want to thank the leaders at Gracious Living for their continued commitment to the commonwealth, and I look forward to seeing the company?s success in Morgantown.?

The company initially located its headquarters at 70 Industrial Drive in Morgantown in 2023 and will now expand its operations to manufacture patio furniture, storage containers and shelving. The expansion is expected to be completed by the end of 2025.

?We eagerly anticipate the opportunity to expand in a state with hard-working citizens and a supportive government stance on economic growth,? said* Charles Kida*, *vice president of finance at Gracious Living*. ?The Morgantown site offers an ideal location due to its strategic position for distribution. Gracious Living looks forward to establishing its first presence in the United States through this expansion initiative. This move represents a significant step in the company?s growth strategy.?

Established in 1989, Gracious Living is a leading manufacturer and distributor of consumer products known for its innovative and high-quality items including patio furniture, storage containers, laundry baskets, shelving and recreational products.

*Butler County Judge/Executive Tim Flener *mentioned the expansion?s impact on the community: ?This expansion marks a significant milestone for Gracious Living and for the community of Morgantown. We are proud to support Gracious Living as they continue to grow, bringing more jobs and opportunities to our residents and our community.?

*Morgantown Mayor Billy Phelps *expressed enthusiasm for the project: ?Gracious Living?s decision to expand here is a testament to the strength of our local workforce and the quality of life in Morgantown. We look forward to their continued success and the positive impact it will have on our community.?

*Ron Bunch*,* CEO of the Bowling Green Area Chamber of Commerce*, highlighted the economic benefits of the expansion: ?Gracious Living?s investment is a significant boost to our local economy and reinforces our region?s reputation as a leading destination for manufacturing. The creation of 50 new jobs is a major win for Morgantown, promising a brighter future for many residents.?

Gracious Living KY?s investment and job creation build on the best four-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling over $30.5 billion in announced investments, creating more than 52,500 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth?s history.

The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On?s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park [ [link removed] ] in Hardin County; AESC [ [link removed] ]?s $2 billion, 2,000-job gigafactory project in Warren County; Toyota [ [link removed] ]?s $1.3 billion investment in Scott County; and INFAC North America [ [link removed] ]?s $53 million investment in Taylor County, among others.

The Governor?s administration also secured [ [link removed] ] the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record [ [link removed] ] for the longest period with the lowest unemployment rates in state history.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings [ [link removed] ] and S&P Global Ratings [ [link removed] ], and Moody?s Investors Service upgraded Kentucky?s credit outlook from stable to positive.

In March, Site Selection magazine ranked [ [link removed] ] Kentucky third nationally and first in the South Central economic development projects per capita in its 2023 Governor?s Cup rankings. Previously, Site Selection placed Kentucky first in the South Central region and top 5 nationally in its 2023 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear announced a ?Supply Kentucky [ [link removed] ]? initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in March preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.43 million in tax incentives based on the company?s investment of $9.78 million and annual targets of:


* Creation and maintenance of 50 Kentucky-resident, full-time jobs across 15 years; and?
* Paying an average hourly wage of $26.37 including benefits across those jobs.

Additionally, KEDFA approved Gracious Living KY for up to $70,000 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.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.

In addition, Gracious Living KY 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.

For more information on Gracious Living KY, visit GraciousLiving.com [ [link removed] ].??

A detailed community profile for Butler County can be viewed here [ [link removed] ].??

Information on Kentucky?s economic development efforts and programs is available at "CED.ky.gov" [ [link removed] ]. Fans of the Cabinet for Economic Development can also join the discussion at "facebook.com/CEDkygov" [ [link removed] ]", on Twitter ""@CEDkygov" [ [link removed] ]", Instagram ""@CEDkygov" [ [link removed] ]" and ""LinkedIn" [ [link removed] ].

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