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Wolf Steel USA, a manufacturer of stoves and fireplaces in Crittenden, held their grand re-opening ceremonies Friday, Dec. 10, to celebrate the completion of their latest expansion project. The expansion consists of 69,000 square-feet that was added to the company’s existing 39,000 square-foot facility. It encompasses increased warehousing, distribution and manufacturing space.
The project was one of the first to be approved by the Kentucky Economic Development Finance Authority (KEDFA) under Kentucky’s incentive program and the Kentucky Business Investment (KBI) Program. The incentives from this program can be earned over a 10-year period through corporate income tax credits and wage assessments and for Wolf Steel USA, are linked to the initial creation of 15 new jobs, growing to 18 over the term of the agreement.
KEDFA also approved Wolf Steel USA for tax benefits up to $66,400 under the Kentucky Enterprise Initiative Act, an incentive program that allows approved companies to recoup sales and use tax on building and construction materials, research and development equipment and electronic processing equipment.
“The Commonwealth is proud to play a role in making this expansion possible, adding 18 new jobs and a multi-million dollar investment to the Grant County community,” said Gov. Steve Beshear. “I congratulate Wolf Steel USA and look forward to a long and successful partnership.”