Specialty chemical company Clariant Corp. plans to invest more than $100 million in a new state-of-the-art production line in Louisville, according to information provided to the Kentucky Economic Development Finance Authority.
The Switzerland-based company, which already has operations locally at 1227 S. 12th St. and 4900 Crittenden Drive, plans to move production of a product called the Ziegler-Natta catalyst from China to Louisville. The move will create more than 40 full-time jobs locally, the KEDFA documents state.
Thursday KEDFA gave final approval for $800,000 in state tax incentives to Clariant to cover some of the costs. Clariant will spend about $12.4 million constructing a new building, but documents from KEDFA don’t say where it will be located. The site will be outfitted with millions of dollars worth of equipment dealing with electronic processing, research and development.
Clariant did not immediately return a call for comment about the new facility.