Lexington, KY – Big Ass Fans will invest $8 million to build a 72,000-square-foot facility in Lexington, creating 150 jobs, company, local and state officials announced today.
The expansion includes 56,000 square feet for office space and 16,000 square feet for storage/warehouse space on Jaggie Fox Way in Lexington, where the company has an existing 45,000-square-foot research and testing facility. The company will maintain its location off Winchester Road.
Founded in 1999, the High Volume Low Speed (HVLS) Fan Company changed its name to Big Ass Fans in 2002 and has become a leading manufacturer of ceiling fans for industrial, agricultural, commercial and residential customers. The fans range in size from 5 feet to 24 feet in diameter and use low horsepower motors to generate energy-efficient air movement for large spaces. There are more than 65,000 Big Ass Fans installed worldwide in locations such as manufacturing facilities, distribution centers, horse arenas, dairy barns, stadiums, restaurants, health clubs and homes.
“While our name may be funny, we take our business seriously,” says President of Big Ass Fans, Carey Smith. “Our company’s success can be credited, in large part, to the quality employees we have attracted and maintained in central Kentucky. Combining this pool of talent with products that really work has led to enormous success, which we’re proud to now reinvest back into the community.”
To encourage the investment and job growth in Lexington, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $2 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also approved Big Ass Fans for tax benefits up to $210,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoupKentucky sales and use tax on construction costs, building fixtures, equipment used in research and development, and electronic processing equipment.