A maker of awnings and steel structures for greenhouses, garden centers, and big-box stores is relocating to a new production operation in Walton.
MAB Fabrication, based in Harrison, Oh., is investing roughly $6.9 million and creating 24 full-time jobs for Kentucky residents in the coming months, an announcement from the state said.
“MAB Fabrication continues the trend of metals and manufacturing companies creating jobs in Kentucky as our economy roars back from this pandemic,” Governor Andy Beshear said. “This company is a welcome addition to the Northern Kentucky business community, and I hope to see its presence grow in our state for years to come. Thank you to the leaders of MAB for this commitment to the workforce in Boone County and the surrounding region. This new location again shows how Team Kentucky is creating a better future for Kentuckians throughout the commonwealth.”
The company plans to locate in a 165,000-sq. ft. facility on Beaver Road in Walton.
“We are looking forward to our move to Walton, Kentucky,” said Tim Bischel, president of MAB Fabrication. “The relocation and new facility will allow us to meet our growth goals.”
The company was founded in 2014.
MAB was awarded state tax incentives to relocate to Boone Co. The Kentucky Economic Development Finance Authority (KEDFA) in May preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $250,000 in tax incentives based on the company’s investment of $6.9 million and annual targets of:
- Creation and maintenance of 24 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $25 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.
In addition, the company can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
Boone County Judge/Executive Gary Moore said the county supports attracting a new manufacturing company to the region.
“Boone County is pleased to welcome MAB Fabrication and the new manufacturing jobs it is bringing to the City of Walton,” Moore said. “I congratulate Tim Bischel, president and co-founder, on the company’s growth and success.”
Walton Mayor Gabe Brown said he appreciates the company’s decision to locate in the City of Walton.
“MAB Fabrication is the type of company we want to attract to Walton,” Brown said. “Our community is ideally located with good highway access and a strong workforce for advanced manufacturers.”
Lee Crume, president and CEO of Northern Kentucky Tri-ED, noted that the company is joining a strong manufacturing community in the region.
“We’re happy we were able to work with MAB Fabrication to identify a larger facility that will accommodate their growth while retaining the company and jobs in the Cincinnati region,” Crume said. “Manufacturing is a strong sector in Northern Kentucky, and MAB Fabrication is a complement to our existing base.”
-Staff report
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June 18, 2021 at 04:54AM
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