Officials say an Alabama lumber company will add dozens of new jobs following the approval of a tax abatement package.
The Tuscaloosa News reports the Tuscaloosa County Industrial Development Authority approved the tax abatement package as part of a $28.2 million capital investment at KyKenKee Inc. during its Thursday meeting. The company will add more than 60 jobs and currently employs more than 600 people.
The authority’s interim executive director, Jo Bonner, says the new investment will allow the company an opportunity to enter new lines of business and to produce new wood products and goods.
The authority estimates the project will contribute around $14 million during the next 20 years in taxes.
KyKenKee manufactures hardwoods and Southern Yellow Pine, as well as specialty cut items and greenscape products.
(Associated Press, copyright 2018)
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