Two years in making, family-owned More Than a Bakery to locate in Versailles, hire 310, invest $57.1m

Home/economic development, news, Woodford, workforce/Two years in making, family-owned More Than a Bakery to locate in Versailles, hire 310, invest $57.1m

Two years in making, family-owned More Than a Bakery to locate in Versailles, hire 310, invest $57.1m

Gov. Matt Bevin announced that More Than A Bakery, LLC, an extension of a century-old family business based in Indiana, plans to build a $57.1 million facility in Versailles.

More Than A Bakery, affiliated with Richmond Baking Co., would employ 310 people and produce cookies, crackers and other items by contract for major food brands and retailers.

“We celebrate the news that More Than A Bakery plans to make a significant economic impact in Woodford County and create a substantial number of jobs with its investment in a state-of-the art facility,” Bevin said. “I have a special appreciation for multi-generational family companies like Richmond Baking that built themselves from modest beginnings.”

More Than A Bakery shared its plans for a 250,000- to 300,000-square-foot building in Versailles with construction expected to start this summer and the facility operational by the end of 2017.

The facility would be located on more than 100 acres to allow for future expansion. More Than A Bakery would represent Richmond Baking’s third world-class bakery and distribution operation.

“The company has needed this kind of additional space for some time now,” said Bill Quigg, president and member of the fourth generation of family ownership. “The Richmond plant is bursting at the seams and isn’t easily adapted for current production methods, and the Georgia facility has had 200 percent growth in two years. We want this new facility and our new employees to help us create a unique culture that will help everyone succeed both personally and professionally.”

From neighborhood bakery to expansion

The Quigg family purchased a neighborhood bakery in Richmond, Ind. in 1902 which produced cookies, breads and cakes. The bakery traces its beginnings back to 1855 with the opening of David Hoerner’s bakery. The Quiggs grew the company nationally adding operations in Richmond, Ind. and Alma, Ga. employing nearly 350 workers.

Mayor Brian

Mayor Brian Traugott

Throughout the decades, the company gained expertise in breading systems, dessert crumbs, ice cream inclusions, contract baking and packaging services. Richmond Baking’s customers include Fortune 100 food brands, grocery and convenience store chains, school cafeterias and national food-service companies.

“We have been working for a while to get these jobs into Versailles, and I am certainly pleased that we have reached this point, because this company has a great reputation of being family and community friendly,” said Versailles Mayor Brian Traugott. “I am committed to doing all I can to move this project forward and hope we can announce a groundbreaking soon.”

The project is still pending planning and zoning approval, expected on March 10.

Jobs to Woodford County

“We are delighted to be working with More Than A Bakery, LLC which wants to bring many jobs to Woodford County,” said Woodford County Judge-Executive John Coyle. “This project’s been over two years in the making and we believe Woodford County is the perfect location for their operations and families.”

John Coyle

Judge-Executive John Coyle

A long time in the works, the project will replace many jobs lost in Woodford County.

“We worked on this project for over two years,” said Craig McAnelly of Bluegrass Area Development District, the Executive Director on contract who facilitated the project. “It replaces many of the jobs lost through the closing of Texas Instruments and Kulman manufacturing over the past ten year.”

McAnelly pointed out that the former Texas Instruments is now home to KCTCS and Kulman is the new home of an expansion of Ruggles Sign Company.

He says that the BGADD was instrumental in locating those businesses, this new company will make “and enormous impact on the Versailles community.”

On its website, More Than A Bakery says its state-of-the-art manufacturing facility will be between 250,000-300,000 square feet and will be located on 100+ acres to allow for future expansion. Products to be manufactured include cookies, crackers, crumbs and inclusions with customers ranging from Fortune 100 companies to smaller, regional businesses.

Target for summer construction

“The company is designing a work experience that’s attractive as a place to live, work, and spend a career. Life needs balance and the company strives to ensure that people enjoy their careers. We are committed to providing the people who work at More Than A Bakery with a living wage and an environment where careers can grow and thrive,” the website says.

Craig McAnelly

Bluegrass ADD’s Craig McAnelly

Construction on the More Than A Bakery facility is targeted to begin this summer, with manufacturing likely to get underway by the end of 2017. Within a few years of completion, More Than a Bakery is expected to create more than 300 jobs that will include a comprehensive benefits package and the opportunity to work in a facility unlike any other in the industry.

To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $8 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.

Additionally, More Than A Bakery was preliminarily approved by KEDFA for $700,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.

More Than A Bakery also is eligible to receive resources from the Kentucky Skills Network which will provide recruitment and job placement services as well as reduced-cost customized training and job-training incentives.

KY Forward Staff Report and Governor’s Office press release

 

By |February 26th, 2016|economic development, news, Woodford, workforce|Comments Off on Two years in making, family-owned More Than a Bakery to locate in Versailles, hire 310, invest $57.1m

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