FRANKFORT, Ky. (Dec. 1, 2021) – Companies continue to locate in Kentucky to capitalize on the state’s logistical advantages, and today Gov. Andy Beshear congratulated SendCutSend LLC, a manufacturer of customized laser-cut metal parts, on the recent opening of its $3.9 million operation in Paris, creating 75 full-time jobs for Kentuckians.
“I’d like to welcome SendCutSend to Kentucky as the company recently opened its Paris facility, creating dozens of jobs for residents in Bourbon County and the surrounding area,” Gov. Beshear said. “This project is the latest example of how the commonwealth’s strength in logistics and distribution positions us to attract great companies that will help us create a brighter future for all Kentuckians. I look forward to seeing SendCutSend grow in Paris for years to come.”
SendCutSend located in an existing nearly 37,000-square-foot facility on Cleveland Drive in Paris to provide the company with improved logistics capabilities for customers throughout the Midwest and along the East Coast. Jobs created through this project include CAD engineers, production specialists and laser technicians, among others. The company already has added 10 of the 75 announced positions, and its leaders expect the operation to be fully staffed by the third financial quarter of 2022.
“We love Bourbon County for the people, climate and most importantly, logistics. The Paris facility allows us to reach more than 50% of the United States in two days with our shipping carriers,” said Jim Belosic, CEO, SendCutSend. “Bourbon County is a great place to have a business. We’ve been able to acquire talented and skilled employees and look forward to continuing to grow our facility and create jobs.”
SendCutSend launched in 2019 and is headquartered in Reno, Nevada. The company was established with the goal to simplify the metal manufacturing process, and provide an avenue for customers to create custom, one-off parts with quick turnaround times without the expense of buying in bulk. SendCutSend works with a variety of metals, including stainless steel, aluminum, titanium, AR500 steel, copper and brass, as well as carbon fiber. The company’s services also include precision bending and tapping.
Bourbon County Judge/Executive Michael R. Williams welcomed the company to the community.
“Bourbon County is so very pleased with the news about SendCutSend’s move to our community. This is a great day for Bourbon County and all of Kentucky,” Judge/Executive Williams said. “Their impact on our community will no doubt be very positive for many years to come. Their decision to come to Bourbon County’s industrial park and how those connections were made are a positive result of many participants and dedicated efforts to grow our community. We will look forward to them being an inspiration for other businesses who might consider our community for future growth and prosperity. Again, it’s a very great day for Bourbon County and a great day for Kentucky!”
Paris Mayor John Plummer thanked everyone who had a role in the SendCutSend project.
“This project is essential for continued growth in our community and will provide good-paying, highly skilled jobs for our young people, while also enhancing the quality of life for all our residents,” Mayor Plummer said. “Their investment in our community will provide positive rewards for both them and us for many years to come.”
Gordon Wilson, executive director of the Paris-Bourbon County Economic Development Authority, said he looks forward to a successful long-term partnership with the company.
“On behalf of the Paris-Bourbon County Economic Development Authority, I would like to thank SendCutSend for bringing their exciting and innovating operation to the Paris-Bourbon County Industrial Park,” Wilson said. “I look forward to partnering with them as they grow their business and take advantage of all the available resources our community has to offer.”
SendCutSend’s investment and planned job creation furthers recent economic momentum in the commonwealth, as the state builds back stronger following the effects of the pandemic.
This year, the commonwealth has shattered every economic development record in the books for yearly investment totals. Year-to-date, private-sector new-location and expansion announcements include over $10 billion in total planned investment and commitments to create 15,200-plus full-time jobs across the coming years. Through September, Kentucky’s average incentivized hourly wage is $24.15 before benefits, a 10% increase over the previous year.
In September, Gov. Beshear, Ford Motor Co. Executive Chair Bill Ford, CEO Jim Farley and Dong-Seob Jee, president of SK Innovation’s battery business, announced the single largest economic development project in the history of the commonwealth, celebrating a transformative $5.8 billion investment that will create 5,000 jobs and places Kentucky at the forefront of the automotive industry’s future.
In July, thanks to strong fiscal management by the Beshear administration, the state budget office reported the commonwealth ended the 2021 fiscal year with a general fund surplus of over $1.1 billion – the highest ever in the commonwealth – and a 10.9% increase in general fund receipts to $12.8 billion.
In May, Moody’s Analytics published a positive economic outlook for Kentucky, noting mass vaccination as the driving force behind a sustained recovery in consumer services. The state’s recovery, Moody’s said, benefited from earlier reopening efforts and increased demand for manufactured goods over services. The report also found Kentucky’s manufacturing industry outperformed the nation’s since the national downturn last year.
Fitch Ratings in May improved the state’s financial outlook to stable, reflecting the commonwealth’s solid economic recovery. The state’s April sales tax receipts set an all-time monthly record at $486.5 million, as did vehicle usage tax receipts at over $64 million.
In March, Site Selection magazine’s annual Governor’s Cup rankings for 2020 positioned Kentucky atop the South Central region, and third nationally, for qualifying projects per capita. The commonwealth also placed seventh overall in total projects, the highest of any state with a population under 5 million. Site Selection also recently placed Kentucky in a tie for fifth in its 2021 Prosperity Cup rankings, positioning the state among the national leaders for business climate.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in April preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $800,000 in tax incentives based on the company’s investment of $3.94 million and annual targets of:
- Creation and maintenance of 75 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $21 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, SendCutSend 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 SendCutSend, visit SendCutSend.com.
A detailed community profile for Bourbon County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at www.CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @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.