Kentucky State Seal

 

*OFFICE OF GOVERNOR ANDY BESHEAR*

*COMMONWEALTH OF KENTUCKY*








*FOR IMMEDIATE RELEASE*




*Contact:* 

*Crystal Staley*
*502-545-3714*

*Brandon Mattingly
502-782-2006*






****************Gov. Beshear: ISCO Industries To Locate New Facility in Jefferson County, Create 50 Kentucky Jobs With $12.75 Million Investment****************

"""""""""""""""""""""Louisville-based company to expand Kentucky presence"""""""""""""""""""""

*FRANKFORT, Ky. (Dec. 12, 2024) *– Today, Gov. Andy Beshear announced ISCO Industries Inc., a global provider of piping materials, will expand its footprint in Louisville with a $12.75 million investment that will create 50 full-time jobs for Kentuckians.

“Building on our New Kentucky Home requires not only welcoming new businesses to our state, we also need to build on our existing partnerships to create even more jobs for our people,” Gov. Beshear said. “ISCO Industries has been a great Kentucky-based business for more than 60 years, and I am excited to see the company continue to grow in the decades to come.”

Leaders at ISCO Industries will invest in a new operation on Johnsontown Road in Louisville. The project supports the company’s continued growth and will further enhance its fabrication capabilities. Work on the project is expected to begin June 2025 and be completed by June 2026.

“ISCO is proud to make an investment in innovation here in Kentucky,” said Mark Kirchdorfer, president, ISCO Industries. “As we prepare for future growth, we will continually invest back into the business.”

Established in 1962, ISCO was founded in Louisville and maintains its headquarters on Witherspoon Street. The company got its start when founder Jim Kirchdorfer Sr. developed the business to support underground golf course irrigation. The family-owned business – now led by his sons Jimmy and Mark – has grown to include more than 30 facilities across the United States and Canada. The company produces high-density polyethylene structures such as manholes, tanks, fittings and geothermal vaults.

In 2007, the company relocated its fabrication facility to Louisville Riverport, where it operates today and employs approximately 75 people.

*Louisville Mayor Craig Greenberg* noted the company’s strong existing presence in Jefferson County: “We are proud to celebrate ISCO Industries’ expansion. Their investment not only underscores their commitment to the South Louisville community but also brings 50 new, well-paying jobs, further bolstering our reputation as a thriving manufacturing city. Thank you to ISCO Industries for your dedication to Louisville!”

ISCO Industries’ 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 $35 billion in announced investments, creating roughly 58,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $13.5 billion more than the next highest total.

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; Shelbyville Battery Manufacturing [ [link removed] ]’s $712 million investment, creating 1,572 jobs in Shelby 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] ], S&P Global Ratings [ [link removed] ] and Moody’s Investors Service [ [link removed] ].

In March, Site Selection magazine ranked [ [link removed] ] Kentucky third nationally and first in the South Central region for 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 in the 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. And last month, the Governor announced [ [link removed] ] a new initiative, called New Kentucky Home [ [link removed] ], to increase economic investment, attain and attract talent, and increase tourism across the state.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) today preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $450,000 in tax incentives based on the company’s investment of $12.75 million and annual targets of:


* Creation and maintenance of 50 Kentucky-resident, full-time jobs across 10 years; and
* Paying an average hourly wage of $27.25, including benefits, across those jobs.

Additionally, KEDFA approved the company or up to $150,000 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, the company 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 ISCO Industries, visit isco-pipe.com. [ [link removed] ]

A detailed community profile for Jefferson 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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