Tue July 1, 2014
Genova to Start Production in Paducah Mid-July
The McCracken County Fiscal Court approved a lease to Genova Products, a Michigan-based vinyl and plumbing products company, for the former Infiniti building for ten years with an option to renew at $298,000 annually during a special meeting last night. Greater Paducah Economic Development Corporation president and CEO Chad Chancellor said Genova can start manufacturing by the middle of the month.
“That was one of the things that attracted them about the building. The building is literally set up for plastics. The infrastructure is already run through it. The piping is already run through it,” Chancellor said. “So all they really got to do is plug their machines in and tie the piping up and away they go.”
The City Commission will vote on the ordinance to accept the lease Tuesday night.
Chancellor told the court the GPEDC will pay the lease for 14 months, and Genova will be responsible for utilities, insurance, maintenance and taxes. The state will offer the company $1 million in tax incentives.
The court discussed the agreement defining a full-time employee, the number of employees, and penalties for not keeping the rules of the lease.
“It’s my understanding that they’ll have people out there working and manufacturing their product here within the month of July,” Judge Executive Van Newberry said. “These are the kind of jobs a lot of people are looking for. I’m sure there’s going to be a lot of people out there very happy that this is the kind of work that is available now.”
Genova will manufacture PVC pipefittings and hire 125 full-time employees.