A Madisonville machine shop is reopening and creating 14 jobs in the process.
CR Machine Shop previously as a supplier for Alliance Coal company but closed once the owner retired. But, Alliance moved to purchase the business’ assets in August, effectively reopening the shop.
“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,” said Gov. Matt Bevin.
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,” said Rep. Yonts. “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.”
To encourage the investment, the state 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 a 10-year term through corporate income tax credits and wage assessments by meeting targets of 14 full-time jobs and an investment of $1.05 million. Alliance is based in Webster County and currently operates 10 mining facilities in 5 states.
