NEWS RELEASE
FRANKFORT, Ky. (Oct. 5, 2016) – As CR Machine Shop LLC reopened today, Gov. Matt Bevin congratulated leaders of the mining and construction equipment repair business, as well as its new owner Alliance Coal LLC, on investing in Hopkins County and creating 14 jobs.
“CR Machine Shop’s new parent company, Alliance Coal, has been a respected employer in the Commonwealth for many years. This venture will allow both Alliance and CR Machine Shop to continue a successful years-long relationship and support both the mining and construction sectors,” Gov. Bevin said. “Alliance has shown great commitment to the people of Kentucky and this project allows us to demonstrate that we, in return, are committed to the company and its success.”
CR Machine Shop previously served as a supplier for Alliance Coal but closed when its owner retired. Following preliminary approval of the project’s participation in the Kentucky Business Investment program in August, Alliance purchased the assets and reopened the business in Madisonville.
“CR Machine Shop has been a strong supplier for Alliance for many years,” said Heath Lovell, Alliance’s vice president of operations. “This investment not only creates much needed jobs in the region but will also allow CR Machine Shop to continue to meet Alliance’s demand for equipment and replacement parts.”
Alliance began as MAPCO Inc. in 1971 in Webster County. The company currently operates 10 mining complexes in Kentucky, Illinois, Indiana, West Virginia and Pennsylvania.
Sen. C.B. Embry, of Morgantown, described CR Machine Shop’s relationship with the community.
“I am excited to welcome CR Machine Shop to Madisonville,” he said. “This company has been a great partner in our mining and construction industry, and I am pleased they chose Hopkins County in which to locate their business. I look forward to their success and economic partnership with our community.”
Rep. Brent Yonts, of Greenville, said the project was a team effort.
“This is great news for Madisonville and a welcome boost to our local coal and construction industries,” Rep. Yonts said. “I want to thank the leaders of CR Machine Shop and Alliance Coal for making this move and adding these additional jobs. I also appreciate the work done by our local and state officials to help make all of this possible. It’s just the latest example of our commitment to grow and strengthen our economy.”
Madisonville Mayor David Jackson said the company makes a great partner for the community.
“We are very pleased to welcome CR Machine Shop to our community,” he said. “The jobs being created are the type of high-wage jobs that fit our skilled workforce in Madisonville. Many thanks to Madisonville Hopkins County Economic Development and the Commonwealth of Kentucky for making this possible. We look forward to meeting CR Machine Shop’s needs as they locate and grow with us in Hopkins County.”
Hopkins County Judge-Executive Donnie Carroll said the project shows the region’s commitment to economic development.
“We welcome the addition of CR Machine Shop, an Alliance affiliate, to our community,” Judge Carroll said. “The high-quality jobs created will help not only the new employees hired, but show how much Hopkins County supports both the manufacturing and coal industries. We feel confident this will be a great and mutually beneficial relationship between the company and our community.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in August preliminarily approved CR Machine Shop for up to $200,000 in tax incentives through the Kentucky Business Investment program. The performance-based incentive allows the company to keep a portion of its investment over the agreement’s 10-year term through corporate income tax credits and wage assessments by meeting targets of 14 full-time jobs and investment of $1.05 million.