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Commission approves job-development credit for Valor Flexible Packaging; company to locate in TransPark

5120752 · July 2, 2025

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Summary

Valor Flexible Packaging LLC will receive a 10‑year city withholding-credit under the Job Development Incentive Program; staff said the company expects to create 76 new jobs and make a capital investment of about $23.4 million.

The Board of Commissioners approved a Job Development Incentive Program (JDIP) employee‑withholding credit agreement with Valor Flexible Packaging LLC to support the company’s planned location in the TransPark.

Assistant City Manager/CFO Katie Schaller Ward told the commission that Valor applied for the Kentucky Business Investment (KBI) program and that the city’s JDIP credit will match the state program structure. Staff said the company committed to creating 76 new jobs within the first 10 years (82 over 15 years) and to a capital investment in the neighborhood of $23.4 million. The city’s JDIP credit was described as a 10‑year credit; staff provided a projected city credit amount tied to the 10‑year period.

Why it matters: The agreement is intended to attract private investment and jobs to the TransPark area. Commissioners voted unanimously to approve the agreement after staff said the application had been reviewed by the JDIP committee.

Details: The item on the agenda cites a 10‑year credit window for the city portion of the incentive; staff noted the program will credit withholding for 10 years per local program rules. The company will occupy an existing spec building in the TransPark.