Camco Chemical, a large chemical manufacturing facility in Florence along the Kenton and Boone County border, will invest $3 million in its facility for building and equipment improvement in conjunction with a ten-year tax incentive agreement from the Kentucky Economic Development Finance Authority, approved on Thursday.
The company expects to add 30 full-time jobs across the ten-year incentive period, paying an average of $25 per hour.
Gov. Andy Beshear’s office announced the investment and incentive agreement on Thursday.
“Kentucky’s strong economy would not be possible without deeply established businesses like Camco choosing to reinvest and expand here in the commonwealth,” said Beshear in the announcement. “Camco has provided products and jobs for six decades, and I’m excited to see the company prosper long into the future.”
Camco Chemical, a family-owned company founded in Fort Thomas in the 1960s, manufactures chemicals for both consumer and industrial markets. The improvements to the 586,000-square-foot facility will expand positions in the company’s production, handling, and warehouse departments and add other support positions.
“The expansion of Camco’s liquid bottling capacity and capabilities for specialty products serving the commercial and consumer markets provides an exciting opportunity to meet demand by new and existing customers,” said Adrian Hothem, president and CEO of Camco. “From our beginnings in Fort Thomas to our current 40-acre campus straddling Boone and Kenton counties, we have always been proud of our Northern Kentucky roots and are excited to continue our growth in the region.”
The state incentive is based on performance. If Camco meets its end of the agreement by fronting the $3 million and providing 30 full-time jobs over the 10-year incentive period, the company can keep up to $400,000 in new taxes it generates over the same time frame.
Camco expects to begin its expansion in the last quarter of 2024 and begin operating the new expansion by the second quarter of next year.
