FRANKFORT, KENTUCKY (BNO NEWS) – Caldwell Tanks, a company that manufactures steel storage tanks, will expand its facility in Louisville, Kentucky creating 15 new jobs, Governor Steve Beshear and Cabinet for Economic Development Cabinet Secretary Larry Hayes announced on Friday.

The 180,000 square-foot facility is located at Tower Road in Louisville and Caldwell Tanks will invest $3.9 million to add 33,000 square-feet to the existing plant, which currently employs 206 people.

“We’re pleased to play a vital role in helping to secure the 15 new jobs and $3.9 million investment that Caldwell’s expansion represents and will continue to assist the company as they grow in Louisville,” Governor Beshear said.

The Kentucky Economic Development Finance Authority approved Caldwell Tanks for tax incentives up to $300,000 through the Kentucky Business Investment program. Such incentives can be earned over a 10-year period through corporate income tax credits and wage assessments but $30,000 is the maximum annual approved amount to be earned.

Caldwell Tanks was established in 1887. The company builds customized water tanks, industrial field erected tanks and vertical concrete storage structures.

“Caldwell Tanks is an established Louisville company that makes quality products – and its signature water towers are visible across the nation. This expansion will not only create jobs for the city, it will ensure that Caldwell remains competitive in the marketplace,” said Louisville Mayor Jerry Abramson.