City and state officials are touting the use of tax incentives to keep a local company in Louisville.
Beverage equipment manufacturer Grindmasters merged with another company last year and mayor’s spokesperson Chris Poynter says officials were concerned the new company would eliminate its 70 jobs in Louisville.
“The city and the state, working with GLI, sat down and said, ‘How can we keep the company here? How can we create new jobs here? What can we do from a tax-incentive basis to approve those jobs?,” he says.
The company will be given 600 thousand dollars in tax breaks in the next decade. In exchange, it will hire 30 additional workers and consider further expansion.