Davis Motor Sales banner ad

think kentucky 300MAYFIELD, Ky. (4/23/13) – Governor Steve Beshear today announced ACE Compressor Parts & Services Inc. will create 10 new, full-time jobs and invest more than $1.1 million as part of an expansion project in Mayfield.
 
“In a time when many companies across the country faced a difficult economic climate, ACE Compressor not only began operations in Mayfield, but now, four years later, is succeeding and growing,” said Gov. Beshear. “We’re pleased to see the Commonwealth partner with ACE Compressor for 10 new jobs and a $1.1 million investment.”
 
Established in 2009 in Mayfield, ACE Compressor offers repair, replacement parts and service for air compressors. The company, which currently employs 10 people, plans to purchase land and equipment to meet an increased demand for business. The expansion will include a new 12,000-square-foot facility to be located on Highway 45 North in a new industrial park.
 
“We appreciate the help of both state and local government offices, such as the Cabinet for Economic Development, Mayfield/Graves County Growth Alliance, Purchase Area Development District, Mayfield, Kentucky Small Business Development District at Murray State University, and financial support from US Bank,” said Johnnie Lee, owner and general manger. “ACE has become both a domestic and international leader in supplying aftermarket parts, sales, and service for centrifugal air compressors needed for large scale manufacturing, pharmaceuticals, and power generation throughout the world. Again, a special word of thanks to all involved, because without the support of the above stated entities, this expansion would not be possible.”
 
To encourage the investment and job growth in Mayfield, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $225,000 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 ACE Compressor for tax benefits up to $25,000 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.
 
“I am so pleased with ACE’s expansion plans,” said Sen. Stan Humphries. “Mayfield is a terrific place to live and as ACE confirms, it’s a very good place to work as well.”
 
“The decision by ACE Compressor to expand is great news for the economy of Mayfield and Graves County,” said Rep. Richard Heath, of Mayfield. “The new facility will not only mean the creation of new jobs both for the company and construction of their new location, but other businesses will reap the benefits from the growth of ACE.”
 
“We are so excited about the future prospects for Ace Compressor in Mayfield and Graves County,” said Mayfield Mayor Teresa Cantrell. “In the meetings that I’ve been involved with, Johnnie Lee and his staff are committed to staying here and growing their business right here where it has its roots -- for a better future for Mayfield and Graves County.”

“Along with the Graves Fiscal Court, we wish to express our sincere gratitude for the existing business of ACE Compressor and offer our congratulations on their upcoming expansion,” said Graves County Judge-Executive Tony Smith. “It is always a pleasure to hear of a hometown company growing and expanding.”
 
“We are very excited that ACE Compressor has chosen to expand its business operations in Mayfield,” said Don Dorris, executive director of Graves Growth Alliance. “It’s been a pleasure working with ACE and its management team during its expansion process. When companies think of compressor parts, refurbishment, and services, they think of Mayfield and the many great companies located here.”
 
For more information on ACE Compressor Parts & Services, visit www.acecompressorservices.com.
 
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky.
 
A detailed community profile for Mayfield (Graves County) can be viewed at http://www.thinkkentucky.com/EDIS/cmnty/index.aspx?cw=019.
 
SurfKY News
Information provided by the office of Gov. Steve Beshear
Photo provided by SurfKY Graphics

© Copyright 2015 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

In Other News...

Mary Roberts Steps into Role as Lactation Consultant at MCCH

MURRAY, Ky. (1/31/15) — After numerous years working with newborns and their parents, Mary Roberts, RN, has moved to… Read More

Most Read This Week

January 28, 2015 18154

UPDATED: Several Involved in Two-Vehicle Accident

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 26, 2015 9312

KSP Arrests Two on Child Porn Charges; MPD…

in Top News For All Sites Touching Hopkins by Trooper Stu Recke
January 28, 2015 7317

Nortonville Man Accused of Meth Possession,…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Detention Center
January 26, 2015 6932

School Board Votes 3-2 for Utility Tax

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
January 25, 2015 6617

Juvenile Hit by Vehicle at McDonald's

in Local (Muhlenberg) Top News by GPD Officer Wes Miller
January 28, 2015 6473

Tax Recall Committee Formed Day After School…

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
January 29, 2015 6302

Man Charged with Sexual Abuse of Child

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 31, 2015 6298

24-Year-Old Killed in One-Vehicle Collision

in Top News For All Sites Touching Hopkins by Rita Dukes Smith, SurfKY News Director

Most Read This Month

January 08, 2015 23707

Woman Claiming to be 'Lady Gaga' Tours Town in…

in Top News For All Sites by Madisonville Police Department
January 15, 2015 23295

UPDATE: Fatality Victim's Name Officially Released

in Top News For All Sites by Doreen Dennis, SurfKY News

Stories Trending Today

January 31, 2015 6298

24-Year-Old Killed in One-Vehicle Collision

in Top News For All Sites Touching Hopkins by Rita Dukes Smith, SurfKY News Director
January 30, 2015 6128

More Than 800 Gather to Encircle HCCHS

in Local (Hopkins) Top News by Tammy Holloway, SurfKY News
January 31, 2015 1625

UPDATED GAME STORY: Muhlenberg Mustangs Trample…

in Local (Muhlenberg) Top News by Mike Groves
January 30, 2015 1480

Governor, First Lady, Commissioner Celebrate New…

in Top News For All Sites by Office of the Governor
January 31, 2015 1340

Eating Only during 9-12 Hour Period May Help…

in General News For All Sites by Melissa Landon
January 31, 2015 1173

Hooked on Science - 'Chemical Reaction Splash'

in General News For All Sites by Jason Lindsey
January 31, 2015 1138

Happenings and Meetings - Hopkins County

in Hopkins News by Amber Averitt, SurfKY News
January 31, 2015 1090

Woman Veterans Video Now on KDVA YouTube

in General News For All Sites by Lisa Aug
January 31, 2015 1057

Keeping the Faith - 'Will Practice Make Perfect?'

in General News For All Sites by Ronnie McBrayer
January 31, 2015 858

Merle Travis Fans Pay Tribute to Thumbpicking…

in Local (Muhlenberg) Top News by Paul McRee, SurfKY News
January 31, 2015 818

Daviess County Traffic Advisory

in Owensboro News by Keith Todd
January 31, 2015 615

Local Church Offering Food for Body, Mind, Spirit

in Local (Hopkins) Top News by Tammy Holloway, SurfKY News