FRANKFORT, Ky. (July 25, 2024) – Today, Gov. Andy Beshear highlighted exciting news within the state’s food manufacturing sector as Mizkan America (MA), an industry-leading producer of pasta sauce and vinegar products, announced plans to expand their current facility in Owensboro with a $156 million investment creating 44 new Kentucky jobs.
“Kentucky’s manufacturing sector has always played a key role throughout the commonwealth, and the tremendous growth we are seeing within the industry is critical to our surging economy,” said Gov. Beshear. “Companies like Mizkan America continue to believe and invest in the commonwealth and its communities, offering quality jobs and opportunities for Kentuckians to provide for themselves and their families. I want to thank the company, as well as local and state officials who helped bring this investment to the Owensboro community, and I look forward to Mizkan’s continued success here in Kentucky.”
The project will see the company expand its Owensboro facilities by approximately 320,000 square feet, bringing its total operational space to over 970,000 square feet. The additional space will allow for building improvements, new machinery and equipment, IT upgrades and related assets that will help Mizkan best meet the current and future needs of its customers while maintaining its position as a market leader.
“This project, which is in its design phase and will move to board approval early next year, would become a transformational project for Mizkan America,” said Koichi Yuki, CEO of Mizkan Ameria Inc. “This new project would involve a substantial investment and demonstrates our strong commitment to fulfilling the needs of our customers in alignment with Mizkan’s two principles: to offer customers only the finest products and to continuously challenge the status quo. We are very excited about the opportunity this will afford MA to grow our business and allow us to better serve our customers. Likewise, we are extremely grateful to the Commonwealth of Kentucky for being such supportive partners in this venture.”
The Mizkan Group is a privately held, international food manufacturer, headquartered in Handa City, Japan, with a heritage that spans more than 200 years. Mizkan Group is women-owned and operated, currently by members of the eighth and ninth generations of the founding Nakano family. The Mizkan Group offers a lineup of well-known international brands under the Mizkan umbrella and is a leader in the liquid condiment category, with major operations in Japan, the United States and the United Kingdom. Mizkan America is based in Mount Prospect, Illinois, and is one of the leading makers of pasta sauce and vinegar products in the United States. Mizkan America maintains 12 manufacturing facilities that serve the retail, foodservice, specialty Asian and food ingredient trade channels. Mizkan America brands include Ragú, Bertolli, Holland House, Nakano and Mizkan. Mizkan America is also the exclusive distributor for Angostura Bitters in North America.
Daviess County Judge/Executive Charlie Castlen highlighted the job opportunities the company’s commitment will bring to the community: “Mizkan is a company that prides itself on top quality products. To have them select Owensboro/Daviess County for this $156 million investment, and more importantly, the addition of over 40 employees to their global workforce, is a win and shows Mizkan’s long-term commitment to our community. It is a recognition of the quality of employees that our citizens are known to be. I wish Mizkan every success with this expansion and the addition of their new (to us) product line.”
Owensboro Mayor Tom Watson looks forward to the future success of the company in the area: “The city appreciates Mizkan’s investment to create a new product line in Owensboro. As one of our premier long-term employers, this investment positions the company for success in Owensboro for decades to come.”
Claude Bacon, president and CEO of the Greater Owensboro Economic Development Corporation, spoke to the company’s impact on the local economy: “Working on this project with Mizkan over the last nine months has been a pleasure. Mizkan’s operation in Greater Owensboro is significant to our economy and this expansion project helps solidify the company’s presence here for the long term. We are excited they chose Owensboro for this expansion and look forward to the next steps in making it a reality. The expansion project represents not only a significant investment in our infrastructure but also a commitment to the economic vitality of our community. By creating new jobs, attracting businesses and fostering innovation, this project will pave the way for sustained growth and prosperity for all residents.”
Mizkan America’s investment and job creation build upon the best four-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling nearly $32 billion in announced investments, creating nearly 55,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and INFAC North America’s $53 million investment in Taylor County, among others.
The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.
Kentucky also secured rating increases from major credit rating agencies Fitch Ratings and S&P Global Ratings, and Moody’s Investors Service upgraded Kentucky’s credit outlook from stable to positive.
In March, Site Selection magazine ranked Kentucky third nationally and first in the South Central region for economic development projects per capita in its 2023 Governor’s Cup rankings. In April, Site Selection placed Kentucky second in the South Central region and in the top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.
Gov. Beshear announced a “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $950,000 in tax incentives based on the company’s investment of $156 million and annual targets of:
- Creation and maintenance of 44 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of more than $29 including benefits across those jobs.
Additionally, KEDFA approved Mizkan America for up to $1 million in tax incentives through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
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 wage assessments.
In addition, Mizkan America can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
For more information on Mizkan America, visit mizkan.com.
A detailed community profile for Daviess County can be viewed here.
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