Business and the Economy
World's Largest Barrel Maker Coming to Morehead
Ground has been broken in Rowan County for construction of a new barrel making factory. It should be completed in about a year. The plant is expected to employ about 70 workers over the next few years. Independent Stave Company is investing more than seven million dollars in the facility. It will serve bourbon and wine distillers across the country.
Company President Brad Boswell says the Morehead area seems to be ideal for the firm’s newest mill.
“Well in Rowan County, there’s just a wonderful resource of white oak timber. You know here at this groundbreaking. You know, you can look around at this panoramic view of just hardwoods and white oak and we just love that, so that’s a big part of it,” said Boswell.
The Kentucky Economic Development Finance Authority approved tax incentives of almost a million dollars for the barrel maker. Lieutenant Governor Jerry Abramson says the white oak industry has an economic impact of about six billion dollars in Kentucky.