A 92 acre site at the Owensboro Riverport has been sold for $2.6 million after seven years on the market. Castlen Welding and Manufacturing purchased the one-time site of Green River Steel and the sale is expected to be finalized in 60 days.
Riverport Authority Chairman Rod Kuegel said officials were mostly trying to make sure they didn't make a bad deal when selling the property.
The owner of the welding company, Matt Castlen, says he'll take advantage of up to $350,000 in state tax incentives as part of a $3.8 million expansion project at the site. The incentives are based on the company eventually employing 30 people at $18 an hour at the new site, or $35,000 a year.