A Florence-based logistics company has secured a payroll tax credit from Boone County and the City of Florence to incentivize job creation.
Two years ago, Mackenzie and Paige Logistics LLC embarked on an aggressive growth plan that included hiring hundreds of employees and upscaling its office space.
On Tuesday, the Boone County Fiscal Court conducted a second reading of an ordinance that provides an occupational tax credit for M&P Logistics LLC to help hire Kentucky residents as part of the Kentucky Business Investment program. The City of Florence and Boone County are both participating in the incentive agreement.
“This is an economic development incentive — good paying jobs and an existing building that they were able to fill and retrofit for their needs,” Boone County Judge/Executive Gary Moore said during the meeting.
As part of the program, M&P must meet annual job and wage benchmarks to be eligible to keep a portion of the new tax revenue it generates.
Boone County is contributing a credit worth .2143% of the county’s .8% occupational tax fee while Florence’s credit is worth .7857%, Boone County Administrator Matthew Webster said during a fiscal court meeting on March 5. Both credits add up to a total of 1%. The incentive only applies to new jobs created for Kentucky residents over a duration of ten years.
In 2022, the state of Kentucky announced that M&P Logistics would invest $4 million in its business, with a goal of adding 210 full-time jobs – 120 of which were specifically for Kentucky residents. Many jobs created through M&P’s investment have been in sales, operations, administration, and management departments.
In addition, M&P announced it was moving into the vacant Gerner & Kearns office building at 7900 Tanners Gate Ln. in Florence. Today, the 26,000-square-foot building serves as the company’s new headquarters. Prior to the move, the company employed 30 people at its Boone County office.
Commissioner Chet Hand noted that the county does not offer economic incentives for logistics and distribution.
“This is not an incentive for a new warehouse distribution building,” he said. “This is an office building for office people only. It’s not a new project — new development with new constructions. It’s just bringing all these people into the existing building.”
Founded in 2011 by Boone County resident Kimberly Hall, M&P Logistics is a certified transportation brokerage company that’s been recognized by Inc. Magazine as one of the fastest growing privately owned companies in the United States. M&P has offices in Kentucky, Florida and California.
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