A news release from the governor's office says the $12 million project will create more than 40 full-time positions. The company plans to begin site work this spring, with the facility opening by July 2017.
American Stave's first Kentucky mill opened in September in Rowan County. The Morehead Wood Products mill now employs 71 people. Both mills will supply cooperages in Lebanon and Missouri.
According to its website, American is a subsidiary of the world's largest barrel maker, Independent Stave Company. Its founder began making barrels in 1912, and branched into the bourbon barrel business by 1951.
The Kentucky Economic Development Finance Authority preliminarily approved American Stave for performance-based tax incentives up to $750,000 through the Kentucky Business Investment program. The agency approved another $200,000 in tax incentives through the Kentucky Enterprise Initiative Act.
