William B. Cassidy, Senior Editor | Jan 20, 2012 10:33AM EST
A small trucking company is about to get a little bigger with some help from the state of Kentucky.
M&M Trucking of Dixon, Ky., is moving into a new 8,600-square-foot facility with the help of $125,000 in tax incentives from the state.
The industrial aluminum and steel hauler is benefiting from an incentive program designed to create jobs and attract investment to the Bluegrass State. Gov. Steve Bashears said incentives have drawn $2 billion to Kentucky since 2009.
For M&M, a company with about 30 employees, the bigger facility will mean more freight, more customers and about 10 more jobs by the end of 2012. “We look forward to continued growth and being able to serve this area for many years to come,” said Larry Moore, president of M&M, which was founded in 1999.
“These 10 additional jobs and the opportunity for M&M Trucking to gain additional customers is a real win for the Webster County community,” Bashear, a Democrat, said Thursday. Webster had an unemployment rate of 7.3 percent in November, down from 9.7 percent in 2009 but still higher than its 6.4 percent rate in 2008.
The Kentucky Economic Development Finance Authority approved up to $125,000 in tax incentives for M&M through the Kentucky Business Investment program, which offers performance-based incentives tied to job and investment targets.
The KBI program requires companies to create a minimum of 10 new jobs for Kentuckians and incur costs of at least $100,000 to be eligible. Hourly wages must be at least $9.06 in “enhanced incentive counties” and $10.88 in other counties.
-- Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter @wbcassidy_joc.