Frankfort Plant Board

All on board and ink drying on Clopay expansion plan in Augusta

FRANKFORT -- With a third stamp of approval in place and the blessing of Kentucky Gov. Steve Beshear, ink is drying on a $12.3 million expansion plan at Clopay Plastic Products Company in Augusta.

The Augusta Clopay plant will be expanded by 62,000 square feet, officials said Thursday.

"Job retention is a vital part of economic development, and the expansion of Clopay in Augusta will ensure 290 people remain on the job," Beshear said. "The commonwealth is delighted that this long-standing corporate citizen is making critical investments in its Kentucky plant and will continue to provide a positive economic impact on the Bracken County community."

An agreement signed between Augusta City Council and Clopay on Wednesday night helped solidify the plan, including an agreement with Clopay to cease any consideration of alternative locations for such an expansion project.

Augusta is assisting Clopay, providing a site acquisition grant of $190,000 which will be "a reimbursement grant of its own funds for reimbursement of expansion site acquisition expenses of the company."

Funds will be disbursed after Clopay expends funds and provides the city with documentation. There is no charge by the city for the grant and it will not seek reimbursement. Augusta will also assist Clopay with utilities relocation and modification and street dedication and closure as necessary, with the cost of doing so on Clopay, official said.

The Kentucky Economic Development Finance Authority approved a $500,000 Economic Development Bond grant to the city for the benefit of Clopay Plastic Products Company, Beshear said.

"Clopay has been a big part of Augusta for over half a century," said Bill Norman, Clopay general manager for North America. "Today’s action by KEDFA is one very big step that will pave the way for Clopay to go forward with this important project in Augusta."

A similar agreement was reached with Bracken County Fiscal Court on Wednesday morning, including an agreement for property tax abatement for five years on the expansion portion, logistical assistance and financial consideration. According to Bracken County officials the expectation is for the expansion to be completed in 2012.

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