Dippin’ Dots, a Paducah-based cryogenically frozen ice cream producer, will expand its operation in McCracken County, Kentucky. The company is expected to invest $3.3M and create up to 28 full-time jobs.
The project will accommodate demand for its patented cryogenic technology. The technology has been found to be instrumental in producing ingredients used in plant-based meat alternatives and other new industries that require high-volume cryogenic freezing. Dippin’ Dots plans to purchase a 6,000-square-foot building near its current operation on Industrial Drive in Paducah to accommodate the expansion. The space will include a new manufacturing floor, freezers, office and storage space. Company leaders expect the expansion to be operational at some point in 2020.
“We are excited about this opportunity to expand our portfolio of products and services to industries outside our core products,” said Stan Jones, chief development officer at Dippin’ Dots. “This opportunity provides diversity in our portfolio and will continue to provide additional growth opportunities for our company and the region.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in July preliminarily approved the company for tax incentives up to $600,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of the new tax revenue it generates over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets. In addition, Dippin’ Dots can receive resources from the Kentucky Skills Network.
“Dippin’ Dots has become an iconic brand within the ice cream industry, and we are proud they have built their brand from here in Kentucky over the past 30-plus years,” Governor Matt Bevin said. “The commonwealth and its skilled workforce offer the ideal recipe for economic growth, as innovative, proven companies like Dippin’ Dots can attest. We congratulate Dippin’ Dots and the Paducah region on this latest expansion, and we look forward to many more years of sweet success.”
Glen Anderson, interim president and CEO of Greater Paducah Economic Development, said the Dippin’ Dots business model provides a framework for other homegrown companies to find success.
“A key component of economic development is recruiting businesses who will provide sustainable employment and economic opportunity to the region,” Anderson said. “Dippin’ Dots is an example of a company who has done that well. Their commitment to diversification and continued growth makes them a company we will proudly use as an example in future recruitment and economic development efforts. On behalf of GPED, its board and investors, we thank them for their continued investment into our region and for making Paducah their corporate home.”
SOURCE: Dippin' Dots