It's a major announcement for Berry Plastics in Simpson County.

The plant is investing around $20-million in equipment and building improvements at its Franklin plant.

Officials told a packed house Tuesday morning that nearly 500 people will be able to keep working, when many were so close to being unemployed.

"It's just a big day for the plant," said Betty Fleming, an employee of Berry Plastics for 52 years.

For the long-time employee, Fleming can remember only one other occasion at Berry Plastics as exciting at Tuesday morning.

"They had me a big 50th celebration, when I was here 50 years," she said.

Fleming has worked at the plant since it's opening in 1957.

And Tuesday, state and local leaders helped recognize its impact on south-central Kentucky.

"This Berry Plastics plant was going to close, and we were going to lose 460 jobs," said Governor Steve Beshear.

Beshear says the company, which makes products like duct tape, plans to invest around $20-million to increase efficiency at the Franklin plant.

"Now, instead of losing 460 jobs, we've got 460 Kentucky families that can go to sleep tonight, feeling a little more secure about putting food on the table, putting a roof over their heads and sending their kids to school," Beshear said.

Berry Plastics' parent company is being approved for $10-million in tax incentives.

Recent state legislation made revisions to all Kentucky economic incentive packages, making it possible for plants like Berry Plastics to stay open.

"Before this, about all we could do was work with a company that was outside the state and try to attract them here. Now because of the new tools we've got, that we were able to pass in the general assembly, we can work with existed businesses to keep them here," the governor said.

It's an effort that's keeping hundreds employed, and giving Betty Fleming her favorite reason to keep working--her co-workers at the plant.

"Everybody just seems like a big family," she said.

Fleming adds workers have seen their share of tough times at the plant, but she says things are picking up.

Governor Beshear says on a state-wide level, one of his goals was to help people survive the recession and says that's something the state has been able to do.