Mammoth Marine, Inc. announced today that it has entered into an exclusive option-to-purchase agreement with Owensboro Riverport Properties, LLC for the Coleman Terminal site to construct a new, state-of-the-art facility to manufacture river barges. Mammoth Marine is currently conducting due diligence activities in support of finalizing negotiations with the Owensboro Riverport for acquisition of the 94 acre site.
When construction is complete, Mammoth Marine will have the only such facility in the U. S. with all activities under one roof: material storage and preparation, component fabrication, assembly, and paint. It will employ 150 people, the majority of whom will be skilled welders for steel fabrication and operators for large material handling equipment.
“The Greater Owensboro Economic Development Corporation and the Kentucky Cabinet for Economic Development have been instrumental in making the Owensboro location very attractive compared to other regional locations. They are working to identify and make available a variety of economic incentives. Our business initiative is being welcomed and that sends a very positive message to our investors,” reported Debbie Dewey, President of Mammoth Marine, Inc.
Mammoth Marine will apply for low interest loans from the Kentucky Economic Development Finance Authority. A local incentive package is also being assembled for the project.
“This is a great opportunity for our region,” said EDC President Nick Brake. “With the movement toward energy independence, river transportation is a cost effective way to move goods. This strategic location on the river will position Mammoth Marine and Owensboro to enter this market at a very exciting time.”
“This is particularly gratifying to me having spent the first 20 years of my career at the old Green River Steel plant, now Coleman Terminal,” said Ed Riney, President of the Owensboro Riverport Authority. “Having shown the property to several companies, I believe Mammoth Marine is the best fit for that property and the community.”
Mammoth Marine Inc., headquartered in Louisville, KY is owned by a consortium of private investors that have experience and success investing in the energy and infrastructure industries. The consortium has plans for other energy-related ventures on the site that may generate additional jobs in the future.
Wednesday, January 16, 2008
Wednesday, January 9, 2008
INTRUCEPT BIOMEDICINE RELOCATES TO OWENSBORO
The Greater Owensboro Economic Development Corporation (GO-EDC) and Kentucky Bioprocessing, LLC (KBP) today announced the relocation of Intrucept Biomedicine, LLC from Vacaville, CA to Owensboro, KY.
Intrucept Biomedicine is a product-focused enterprise whose mission is to discover and develop novel antiviral biotherapeutics.
In 2006, Intrucept Biomedicine obtained a commercial license from the National Institutes of Health to a plant-derived, broad-spectrum antiviral protein that is one of the most potent antivirals known and can be readily produced using plant-based biomanufacturing at Kentucky Bioprocessing.
Intrucept is the first Owensboro-based company to qualify for state funding through Emerging Ventures, the new Owensboro Office of the Central Region Innovation and Commercialization Center. The funds will qualify them for the new Emerging Ventures Fund, created by the Owensboro City Commission as a seed capital fund to entice technology-based companies like Intrucept to locate in Owensboro.
"We looked literally all over the world and Kentucky Bioprocessing in Owensboro is the most cost effective and best technology for the drugs we are producing," said Dr. Daniel Tusé the managing director for corporate development at Intrucept.
"Owensboro can succeed in creating a cluster of companies focusing on the utilization of our strengths, plant pharmaceuticals and plant-based natural products," said EDC President Nick Brake. "In these areas between KBP, the Owensboro Cancer Research Program and the partnership with the University of Louisville, and our regional agriculture community, we have a competitive advantage not found anywhere else."
“We are not looking to just recruit a company, we are trying to create an entire industry in plant natural products around the asset of Kentucky Bioprocessing,” said Hugh Haydon, Chairman of Kentucky Bioprocessing.
Intrucept is the second California-based plant pharmaceutical company to announce a location in Owensboro in the past six months. In October, San Diego-based Mapp Biopharmaceutical relocated part of its operation to the KBP campus.
Intrucept Biomedicine is a product-focused enterprise whose mission is to discover and develop novel antiviral biotherapeutics.
In 2006, Intrucept Biomedicine obtained a commercial license from the National Institutes of Health to a plant-derived, broad-spectrum antiviral protein that is one of the most potent antivirals known and can be readily produced using plant-based biomanufacturing at Kentucky Bioprocessing.
Intrucept is the first Owensboro-based company to qualify for state funding through Emerging Ventures, the new Owensboro Office of the Central Region Innovation and Commercialization Center. The funds will qualify them for the new Emerging Ventures Fund, created by the Owensboro City Commission as a seed capital fund to entice technology-based companies like Intrucept to locate in Owensboro.
"We looked literally all over the world and Kentucky Bioprocessing in Owensboro is the most cost effective and best technology for the drugs we are producing," said Dr. Daniel Tusé the managing director for corporate development at Intrucept.
"Owensboro can succeed in creating a cluster of companies focusing on the utilization of our strengths, plant pharmaceuticals and plant-based natural products," said EDC President Nick Brake. "In these areas between KBP, the Owensboro Cancer Research Program and the partnership with the University of Louisville, and our regional agriculture community, we have a competitive advantage not found anywhere else."
“We are not looking to just recruit a company, we are trying to create an entire industry in plant natural products around the asset of Kentucky Bioprocessing,” said Hugh Haydon, Chairman of Kentucky Bioprocessing.
Intrucept is the second California-based plant pharmaceutical company to announce a location in Owensboro in the past six months. In October, San Diego-based Mapp Biopharmaceutical relocated part of its operation to the KBP campus.
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