FRANKFORT, Kentucky
,
September 30, 2022
(press release)
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Today, Gov. Andy Beshear announced yet another significant investment in Kentucky’s manufacturing sector, as Elevate Windows and Doors LLC will invest over $16 million and create 203 full-time jobs with a new production and distribution operation in Hopkinsville. “I want to welcome Elevate to Christian County and the commonwealth, and the more than 200 quality jobs the company will create with this investment,” Gov. Beshear said. “This is the latest company to recognize the value in locating in Kentucky and the many strengths we offer to ensure their business thrives well into the future. Elevate will be a great addition to our manufacturing sector, which continues to diversify and grow.” Company leaders will acquire an existing 100,000-square-foot building on 22 acres in Hopkinsville in the next step of their plans to expand Elevate’s manufacturing and distribution footprint throughout the southern United States. Company leaders noted the strategic distribution location, available workforce and business-friendly environment as factors in the decision to locate in Christian County. New jobs created through the project will include 183 light manufacturing and shipping roles and 20 office positions. Company leaders expect to begin production as soon as April 2023. “Elevate, a leading window and door manufacturer of contemporary, energy efficient vinyl windows and doors for residential new construction and replacement applications, is soon heading to Hopkinsville. In advance of our eastern expansion, we would like to thank the Commonwealth of Kentucky, Christian County, City of Hopkinsville and TVA for all their hard work and support,” said Mike Prindle, chief financial officer at Elevate. “We would also like to thank the South Western Kentucky Economic Development Council for coordinating all entities to make this new expansion become a reality. The facility where our new plant will be located, potential employee base and welcoming community support made our decision an easy one. We are excited to soon be a part of this thriving community.” Founded in 2018, leaders at Elevate have quickly established the company as a leader in the manufacture of contemporary, energy-efficient windows and doors for residential applications. The company maintains a mission to combine innovative design and technology with contemporary style and materials to produce high-quality products. Elevate products minimize installation time and maintenance while enhancing quality of life for customers. Elevate adds to Kentucky’s impressive manufacturing presence, which includes nearly 5,000 facilities that employ around 250,000 residents. According to the National Association of Manufacturers, over 13% of the commonwealth’s workforce is in manufacturing, well above the national average of 8.5%. Since the start of the Beshear administration, manufacturers have contributed to more than $17 billion in new investment with over 24,000 full-time jobs announced. Christian County Judge/Executive Steve Tribble thanked those who had a hand in making the project possible. “On behalf of the residents of Christian County and Southwestern Kentucky, I want to thank Elevate Windows and Doors for their decision to purchase the Commerce Park I Spec Building, investing over $16 million and creating over 200 good-paying jobs,” Judge Tribble said. “Additionally, we’d like to thank Gov. Beshear, Cabinet for Economic Development Secretary Jeff Noel, TVA Senior Vice President of Economic Development John Bradley and our utility, education and workforce partners who assisted with this project. It’s a team effort to secure company commitments and we’re thankful to be part of a great team.” Hopkinsville Mayor Wendell Lynch said the community looks forward to a partnership with the company. “The City of Hopkinsville is thrilled that Elevate Windows and Doors, LLC has chosen to locate in Hopkinsville and Southwestern Kentucky,” Mayor Lynch said. “We are confident that our community and region will provide the perfect environment for their continued growth and success. We stand ready to support their business for years to come and thank company leadership for choosing Hopkinsville as their new Kentucky home.” Carter Hendricks, executive director of the South Western Kentucky Economic Development Council, said the project helps diversify the rapidly expanding industrial sector in the region. “It’s gratifying to see our vision come to fruition at the most recent spec building in our region. We sought to recruit a strong company and to diversify our industrial footprint by recruiting a new industrial sector,” Hendricks said. “With Elevate Windows, our region has exceeded expectations. We are excited to work with the company as they execute their plans and enjoy success for generations to come. We’re also excited to help company leadership make a positive impact as they’ve pledged to be strong corporate citizens in our award-winning region!” Tennessee Valley Authority (TVA) Senior Vice President of Economic Development John Bradley said he anticipates a successful partnership with the company. “TVA and Pennyrile RECC congratulate Elevate Windows and Doors LLC on its decision to establish operations in Christian County. Helping to attract and retain job opportunities and investment to the region is fundamental to TVA’s mission of service,” Bradley said. “We are proud to partner with the Kentucky Cabinet of Economic Development, South Western Kentucky Economic Development Council, Christian County and the City of Hopkinsville to further that mission and look forward to Elevate Windows and Doors’ future business success in the commonwealth.” Elevate’s investment and planned job creation furthers recent economic momentum in the commonwealth, as the state builds back stronger from the effects of the pandemic. In 2021, the commonwealth shattered every economic development record in the books. Private-sector new-location and expansion announcements included a record $11.2 billion in total planned investment and commitments to create a record 18,000-plus full-time jobs across the coming years. Kentucky’s average incentivized hourly wage for projects statewide in 2021 was $24 before benefits, a 9.4% increase over the previous year. In the past year, the Beshear administration announced the two largest economic development projects in state history. In September 2021, Gov. Beshear and leaders from Ford Motor Co. and SK Innovation celebrated a transformative $5.8 billion investment that will create 5,000 jobs in Hardin County. And in April of this year, the Governor was joined by leadership at Envision AESC to announce a $2 billion investment that will create 2,000 jobs in Warren County. These announcements solidify Kentucky as the EV battery production capital of the United States. The economic momentum has carried strongly into 2022, with both S&P Global Ratings and Fitch Ratings upgrading Kentucky’s financial outlook to positive in recognition of the commonwealth’s surging economy. And Site Selection magazine placed Kentucky at 6th in its annual Prosperity Cup rankings for 2022, which recognizes state-level economic success based on capital investments. Kentucky has posted record low unemployment rates for five consecutive months, holding at or below 3.9% since April 2022. In July, the Governor reported the highest annual growth rate in 31 years. And for the second year in a row, Kentucky’s General Fund budget surplus has exceeded $1 billion. Also in July, Gov. Beshear reported that the state’s Rainy Day fund is up to a record balance of $2.7 billion, significantly higher than the $129 million balance the fund had when the Governor took office. In September, Kentucky reported August 2022 General Fund receipts hit an unprecedented high for any August on record, marking 21 straight months of growing revenues for the state. To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $2.25 million in tax incentives based on the company’s investment of more than $16 million and annual targets of: Creation and maintenance of 203 Kentucky-resident, full-time jobs across 15 years; and 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 Elevate Windows and Doors, visit ElevateWindows.net. A detailed community profile for Christian County can be viewed here. Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn. Read about other key updates, actions and information from Gov. Beshear and his administration at governor.ky.gov, kycovid19.ky.gov and the Governor’s official social media accounts Facebook, Twitter and YouTube.
Paying an average hourly wage of $22 including benefits across those jobs.
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.
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