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Preliminary agreement in place to bring manufacturing facility to Somerset

Category : News | Published : Wed Feb 01 2017 | Read : 200

Preliminary documents were signed this week to supply natural gas to a proposed $70 million manufacturing facility that would convert natural gas to other products, and an agreement, also preliminary, has been reached to build the plant on a 23-acre site south of the former Crane Company building.

“I can confirm a preliminary agreement has been signed to locate the plant on a piece of land adjacent and south of the former Crane Company property,” said Martin Shearer, executive director, Somerset-Pulaski County Development Foundation. The property is currently owned by the Development Foundation.

“It’s all preliminary ... but I’m optimistic ... if everything comes together, I believe the plant is coming to Somerset,” Shearer continued.

“They are on a fast track,” commented Somerset Mayor Eddie Girdler, referring to a group of Houston, Texas investors considering Somerset for a manufacturing facility that would convert natural gas into “other” products. In addition to preliminary contracts for natural gas and the selected site, current negotiations are under way on long-term prices for natural gas, Girdler revealed. Negotiations apparently will soon move to the state level for considerations, including tax incentives.

source : http://www.somerset-kentucky.com/news/preliminary-agreement-in-place-to-bring-manufacturing-facility-to-somerset/article_ee42d19e-e7fc-11e6-930f-17781c28f1e0.html