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 Joins Belmark To Break Ground on New $99 Million Manufacturing Facility in Allen County Creating 159 Quality Jobs*****

""""""""""""Company?s first Kentucky operation was announced in January""""""""""""

*SCOTTSVILLE, Ky. (July 10, 2024) *? Today, Gov. Andy Beshear joined local officials and leaders of Belmark Inc., a manufacturer of printed pressure-sensitive labels, flexible packaging and folding cartons, as the company broke ground on its new $99 million manufacturing facility in Allen County creating 159 well-paying, Kentucky jobs.

?With every groundbreaking event, we celebrate another quality investment that will bring job opportunities and economic growth to the commonwealth,? said *Gov. Beshear. *?This is an exciting next step for Belmark and the Allen County community. I want to thank the company?s leadership for their belief in what this great state has to offer and look forward to Belmark?s success here in Kentucky.?

The groundbreaking marks the start of Belmark?s investment to locate a new operation on 25 acres in Allen County. The new 156,000-square-foot flexible packaging plant ? the company?s first facility in the commonwealth ? will allow Belmark to increase manufacturing capacity and capabilities to better serve its customer base throughout the United States. Construction of the new facility is expected to be completed in 2026. The 159 full-time jobs created by the project will pay an average wage of almost $37 per hour, including benefits.

?Belmark is excited to expand our operations to Kentucky, marking a significant milestone in our growth and commitment to innovation in the packaging industry,? said *Karl Schmidt, president and CEO of Belmark*. ?This new facility will not only expand our manufacturing capabilities but also bring quality jobs to the Allen County community. We are eager to contribute to the economic development of Kentucky and look forward to a successful partnership here.?

Founded in 1977, Wisconsin-based Belmark manufactures pressure sensitive labels, flexible packaging and folding cartons for customers in a broad range of markets. After 46 years of business, the company now employs over 1,300 people across seven facilities in De Pere and Shawano, Wisconsin, and Phoenix, Arizona. The company is committed to creativity, innovation and problem solving to help serve its customer base and advance the packaging industry forward.

Belmark?s project also contributed to Site Selection?s magazine?s recent ranking of Allen County in the top 20 on its America?s Best Counties [ [link removed] ] list based on points per capita.

*Allen County Judge/Executive Dennis Harper *looks forward to the opportunities the investment will bring to the community: ?We are very excited about Belmark locating in Allen County. This will provide more opportunities for our citizens to stay in Allen County and provide for their families. We look forward to a long relationship.?

*Scottsville Mayor David Burch *is excited to partner with the company as they grow in Scottsville: ?We are excited to welcome Belmark to our community and pledge to work with them as they grow. This is a great company that weighed both the economic opportunity and quality of life in making the decision to expand into our area. They will be an exceptional partner moving forward.?

*Allen County/Scottsville Industrial Development Authority (ACSIDA) Executive Director Johnny Hobdy *noted the impact this investment will have on the community and surrounding region: ?Belmark selecting Scottsville and Allen County for their next facility is a game-changer for our community. My commitment, as well as our community?s, is to make them every day proud of their decision, and we are beyond excited for this partnership.?

Belmark?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 nearly $32 billion in announced investments, creating more than 54,700 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. In April, Site Selection placed [ [link removed] ] Kentucky second in the South Central region and top 10 nationally in its 2024 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 January 2024 [ [link removed] ] preliminarily approved the company to receive incentives under the Kentucky Business Investment program Kentucky Enterprise Initiative Act (KEIA).

For more information on Belmark, visit belmark.com [ [link removed] ].

A detailed community profile for Allen 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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