Following a public hearing Monday night, the Marshall County Council approved a ten year property tax abatement for Faulkner Fabricating, Inc. taking action in support for local business expansion and economic growth. The approval was the second step in the tax abatement process. The first step occurred on July 13th when the Council was introduced to the company’s plans, and they designated the location as an economic revitalization area.
Faulkner Fabricating, Inc., located just west of Bourbon, plans to invest approximately $1.53 million in a building addition and new manufacturing equipment creating 5 new jobs.
Faulkner Fabricating, Inc. is a second generation business founded in 1990. Current ownership throughout its 25 year history has diversified its production capabilities and grown to 34 employees. Today, the business supplies production and shipping racks, and other components to the automotive, window, and coal mining industries.
This expansion represents one of Faulkner Fabricating, Inc.’s largest investments in their facility since establishing its roots in Marshall County. The planned capital investment will include a $925,000 building addition, almost doubling the total square footage of their facility to 75,000 sq. ft. The company will also invest approximately $600,000 in new equipment and machinery in order the meet the growing demands of its customers. With the expansion, Faulkner Fabricating, Inc. will have 39 employees.
