Newport’s P.L. Marketing is looking to expand in the coming years thanks in part to a tax credit doled out by the state of Kentucky.
Last Wednesday, the Kentucky Economic Development Finance Authority announced that P.L. Marketing received preliminary approval of approximately $900,000 in tax credits to revamp the firm’s office space in the post-COVID era. The credits come coupled with a $1.04 million investment made by the firm into the company.
The comes from the Kentucky Business Investment, program which provides income tax credits and wage assessments to companies in a variety of industries that are looking to either relocate or expand within the Bluegrass state.
As part of the agreement, P.L. Marketing must hit a number of negotiated benchmarks throughout ten years, including job and average hourly wage targets. By the tenth year, P.L. Marketing is expected to have hired 180 new employees. Additionally, the firm must maintain an average hourly wage of $29.42 every year throughout the decade long term, according to KBI documents.
Founded in 1989, P.L. Marketing works hand-in-hand with one of the Greater Cincinnati area’s largest companies — Kroger. The grocery giant needed a marketing company that focused dedicated resources on growing its private-label grocery sales and market share. Over time, the company evolved into a Kroger-dedicated firm solely focused on providing an array of merchandising and operational services for the company’s headquarters, divisions and stores.
In 2013, P.L. Marketing moved to its current location at 300 Dave Cowens Drive in Newport, where it serves as the largest tenant in the building, occupying three floors.
The firm completed $120,000 worth of interior renovations in coordination with its 2013 relocation, according to Campbell County property records. Finished in 1990, the building boasts a 560-spot parking garage and is within close proximity to downtown Cincinnati.
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Source: Newport’s P.L. Marketing gunning for expansion in coming years – LINK nky
