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Fri March 29, 2013
Paducah Introduces Ordinance For New Business
Paducah’s Mayor and Commissioners introduced an ordinance Thursday for a memorandum of understanding between Macco Organiques, Inc., the Greater Paducah Economic Development Council, the Paducah-McCracken County Industrial Development Authority, the City of Paducah, and McCracken County. Macco wants to locate a manufacturing and distribution facility for food-grade pharmaceuticals in the city’s spec building.
The memorandum outlines how the City and County will each invest $1.25 million to improve the building while retaining ownership. In return, Macco will lease the facility for five years with a renewal option. The agreement also outlines Macco’s commitment to hire 40 full-time employees with an average minimum salary of $16 per hour and health insurance benefits. Macco also plans to invest a minimum of $9 million in the project. The Paducah location would be the company’s third.