Marquette Announces Paducah, Ky., Expansion
Marquette Transportation Company will expand its Paducah, Ky., facility, with more than $5 million in investment, creating up to 55 jobs, Kentucky Gov. Andy Beshear’s office announced February 27.
“One of Kentucky’s greatest strengths has always been its unique access to resources and ideal location for companies to distribute their products to businesses and consumers quickly and efficiently,” Beshear said. “This is an exciting project not just for our surging distribution and logistics industry, but for Paducah and western Kentucky. I want to thank Marquette Transportation’s leadership for their belief in the commonwealth and look forward to their continued success.”
The investment will include adding a new training center, warehouse and additional office space and will bring the company’s Kentucky employment to more than 340 people out of a total of more than 1,500 mariners and a team of more than 250 shore-based staff. Jobs created will include both vessel and shoreside positions.
“We are proud to be headquartered in Paducah, and we appreciate the governor, the state of Kentucky and the Kentucky Cabinet for Economic Development for their dedication to fostering business growth across the Commonwealth,” said Damon Judd, president and CEO of Marquette. “The potential incentives from KEDFA will help us continue our investments in training and supporting our people – our most important asset. We appreciate the support from Mayor Bray, Judge/Executive Clymer and Mr. Wilcox of our industry and for Marquette’s expansion project. Paducah plays a central role to America’s inland waterway industry, and we are thankful that we are able to offer hard-working Kentuckians a rewarding career with great advancement opportunities in the marine transportation industry.”
Marquette Transportation Company was founded in 1978 and is headquartered in Paducah.
McCracken County Judge-Executive Craig Clymer said he is excited to see a long-time company in the community continue to invest in its workforce.
“Marquette Transportation is one of our longstanding local companies and one of the reasons Paducah/McCracken County is known as the inland waterway capital of the United States,” he said. “It is exciting to bring new business, but it’s especially rewarding to see our long-standing, locally based businesses expanding with even more employees at strong wage levels. Marquette and the Eckstein family have for decades been enormous contributors to our community, and their selfless generosity is greatly appreciated.”
Paducah Mayor George Bray sid the company plays an important role in the local economy.
“Marquette Transportation is a leader in the river industry that is critically important to the Paducah community,” he said. “Marquette’s investment in a new training facility and the additional jobs is affirmation that Paducah continues to be the epicenter of the inland waterways corridor. We look forward to supporting Marquette as they continue their growth and leadership in this industry.”
Greater Paducah Economic Development President and CEO Bruce Wilcox said he looks forward to the company continuing to grow in Paducah.
“Marquette is one of the nation’s largest marine transportation companies and one of our region’s largest employers,” he said. “This additional investment and their commitment to grow in our community strengthens even more Paducah’s presence in the maritime industry. We are very excited and grateful for their decision to expand their operations here in Paducah.”
The Kentucky Economic Development Finance Authority preliminarily approved a 15-year incentive agreement with Marquette Transportation on February 27 under the Kentucky Business Investment Program, Beshear’s office said. The performance-based agreement can provide up to $800,000 in tax incentives based on the company’s investment of more than $5 million and annual target of creation and maintenance of 55 Kentucky-resident, full-time jobs across 15 years and paying an average wage of $41 per hour, 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 age assessments.
In addition, the governor’s office noted that Marquette can receive resources from Kentucky’s workforce service providers, including no-cost recruitment and job-placement services, reduced-cost customized training and job-training incentives.
