Company recently purchased Kentucky-based WILD Flavors GmbH
FRANKFORT, Ky. - Scores of high-paying jobs are coming to northern Kentucky. Gov. Steve Beshear today announced that Archer Daniels Midland Company (ADM) plans to establish an IT center in Erlanger.
ADM, a global agriculture and food ingredient company, is slated to create 200 local jobs.
I am delighted to celebrate ADMs location of a new IT center in Erlanger, said Gov. Beshear. This investment not only creates 200 high-paying jobs for the citizens of northern Kentucky, but it also demonstrates the companys confidence in Kentuckys quality workforce and business climate. I look forward to working with ADM as they continue to grow their presence in the commonwealth.
ADM recently purchased WILD Flavors GmbH, also in Erlanger. ADM plans to place the IT center inside an unoccupied building on WILDs campus. The IT center will be an important hub for the company as ADMs IT support and infrastructure continues to grow and its global business expands.
We considered other locations, but in the end, co-locating this facility with our WILD Flavors offices in Erlanger offered us a wealth of advantages, said Marty Schoenthaler, ADM chief information officer. One of the ways in which ADM is making ongoing progress in enhancing returns is through careful consideration of costs throughout the business. In this case, we are controlling costs by using available space in a building we already own, and also benefitting from tax incentives offered by the commonwealth. We will also be able to recruit from a strong local talent pool in northern Kentucky, and we will have quick and easy access to a major airport. This is a great example of the many synergies that were realizing following the WILD acquisition.
For more than a century, the people of ADM have transformed crops into products that serve the vital needs of a growing world. Today, ADM is one of the worlds largest agricultural processors and food ingredient providers, with more than 33,000 employees serving customers in more than 140 countries. With a global value chain that includes more than 470 crop procurement locations, 285 ingredient manufacturing facilities, 40 innovation centers and the worlds premier crop transportation network, ADM connects the harvest to the home, making products for food, animal feed, chemical and energy uses.
WILD Flavors is one of the worlds leading suppliers of natural ingredients to the food and beverage industry. WILD has been in operation northern Kentucky since 1994 and currently employs around 430 people.
The Northern Kentucky Tri-County Economic Development Corporation (Tri-ED) works hard to attract high tech, successful and growing companies like ADM to our region, said Steve Arlinghaus, Kenton County Judge-Executive and chairman of Northern Kentucky Tri-ED. The high-paying jobs being created at the IT center in Erlanger will benefit all three counties and add to the diversity of our economy in northern Kentucky.
To encourage the investment and job growth in northern Kentucky, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $5 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also approved ADM for tax benefits up to $200,000 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 equipment.
For more information on ADM, visit www.adm.com