New company to open shuttered Boston sawmill, export hardwoods
NELSON COUNTY GAZETTE / WBRT RADIO
STAFF REPORT
Monday, April 25, 2016 — Gov. Matt Bevin today announced Legend Lumber Lee Corp. plans to open in a shuttered hardwood lumber concentration yard on Sawmill Road in Boston, investing nearly $3.5 million and creating at least 30 full-time positions to produce hardwood for export to Asia.
The new company could create as much as 30 jobs earning a typical hourly wage of $17.65 an hour or so including benefits.
“Legend Lumber founder Jack Li saw demand for a product and took steps to find the best location to meet that demand,” Bevin said through a press release. “I’m proud to say that process led him to Kentucky.”
Jie “Jack” Li, president of Legend Lumber, bought the nearly 20-acre former SEEMAC Lumber facility in Boston which closed in 2009. Li said he plans to expand it and purchase new equipment. He expects the operation to be fully operational by the end of 2017. The facility will bring in green lumber for kiln and air drying, sorting, grading and shipping.
The company’s initial 20 full-time positions will include 16 yard employees, two clerical staff and a yard manager later this year. Li anticipates hiring 10 to 15 additional yard employees in 2017.
Li brings 20 years of lumber industry experience to Kentucky and a substantial customer base which he built in Asia, primarily in his native China.
“Demand for high-quality hardwoods in China remains particularly strong,” said Li. “With help from state and local economic developers in Kentucky, I’m pleased to have identified the SEEMAC concentration yard and put together a workable deal. I look forward to opening and helping to bring jobs and activity to Nelson County.”
Rep. David Floyd, of Bardstown, expressed appreciation for Legend Lumber’s decision to call Nelson County home.
“I am excited that Nelson County was chosen as the site for this substantial investment in Kentucky’s building industry and thank the local and state economic development agencies for their support on this project,” Floyd said.
Nelson County Judge-Executive Dean Watts said he expects the new addition to benefit the local community.
“We believe Legend Lumber will be a great asset to Nelson County. It will provide new jobs and a great investment for the community of Boston,” Watts said.
The project was approved for tax incentives up to $600,000 by the Kentucky Economic Development Finance Authority (KEDFA) 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, KEDFA approved Legend Lumber for up to $40,000 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.
-30-
