Local company to add 9 jobs

Posted: Tuesday, June 16, 2015

Courier-Times Staff Report

KVK Logo

A local company’s investment in a blow molding machine is expected to create new jobs and so the New Castle City Council approved a property tax abatement to the company.

KVK US Technologies, 1016 S. 25th Street, is investing $2 million in new equipment. The city’s tax abatement will allow the company three years to phase in the payment of property taxes on it.

Company owner Chad McClung said his company currently employs seven people. The new machinery will create nine more jobs. It will allow the firm to make an innovative plastic gas can for one of its customers.

McClung said he hopes to have the new equipment operational by October.

Penny York, special projects manager for  the New Castle-Henry County Economic Development Corporation, made the request on McClung’s behalf. She said the EDC supports the abatement request. The council unanimously approved the abatement.