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*






*G*ov. Beshear: EPC-Columbia to Expand in Marion County With $3.6 Million Investment, Creating 21 Full-Time Jobs**

"""P"lastic injection molding manufacturer currently employs over 400 Kentuckians""""

*FRANKFORT, Ky. (April 22, 2024) *? Today, Gov. Andy Beshear announced continued momentum within the state?s manufacturing sector as leaders at EPC-Columbia Inc., an industry-leading plastic injection molding company, will be expanding the company?s manufacturing operation in Lebanon with a $3.6 million investment creating 21 full-time, Kentucky jobs.

?The manufacturing sector is a staple of Kentucky?s booming economy,? said *Gov. Beshear*. ?Having companies already established here in the commonwealth choosing to expand and grow their operations is a critical component of the state?s continued economic success. EPC-Columbia is providing quality job opportunities for Marion County and the surrounding community, and I congratulate the company on this exciting next step.?

The expansion project will see the company add 40,000 square feet to its manufacturing facility in Marion County, bringing its total operating space to nearly 300,000 square feet. The additional room will allow for increased manufacturing operations, office space and equipment to meet growing customer demand. The investment will add 21 full-time jobs, bringing the company?s total Kentucky employment to 430.

?We are extremely excited to be expanding our operations and continue working within the Marion County community,? said *Reza Kargarzadeh, president of EPC-Columbia*. ?I want to thank everyone who made this project possible, including the hard-working, dedicated employees of EPC-Columbia, local officials and the Kentucky Cabinet for Economic Development. We are thrilled to enter this next chapter as a company and look forward to continuing to provide quality products and services to our customers around the world.?

Founded in 1994, EPC is an industry leader in plastic injection molded products, with services that include injection molding, two-shot injection molding, vacuum forming, cast skin, urethane foaming and painting. EPC serves major industries that include automotive, commercial and consumer appliance, aerospace, off-road heavy equipment, agriculture and forestry, scientific and medical sectors. Today, the company has 560 injection molding machines ranging from 30 to 3,300 tons and 16 manufacturing facilities. EPC operates in Alabama, Florida, Iowa, Indiana, Kentucky, Missouri, Wisconsin, Michigan, Ohio, South Carolina, Canada and Mexico.

*Marion County Judge/Executive David Daugherty *looks forward to celebrating this exciting opportunity for EPC and the community: ?We are thrilled about the additional employment opportunities this expansion project will bring to Marion County. We appreciate EPC?s vision for continued growth in our community and look forward to celebrating this milestone with the company.?

*Lebanon Mayor Gary Crenshaw* highlighted the economic impact the expansion will bring to the area: ?EPC?s expansion is another addition to the economic engine that continues to thrive in Marion County. The additional investment in capital and jobs add to the vibrant progressive vision we project as a community.?

*Brooklyn Leep, Marion County economic development director, *noted the continued support and commitment by EPC within the community: ?We welcome this exciting news for our community as EPC expands its operations, bringing new opportunities and economic growth to our community. We appreciate their continued investment and commitment to Marion County.?

EPC?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 $30.6 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) preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program in March. The performance-based agreement can provide up to $350,000 in tax incentives based on the company?s investment of at least $1 million and annual targets of:


* Creation and maintenance of 21 Kentucky-resident, full-time jobs across 15 years; and
* Paying an average hourly wage of $20.42, including benefits across those jobs.

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, EPC-Columbia 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 EPC-Columbia, visit epcmfg.com [ [link removed] ].

A detailed community profile for Marion 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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