Economic Development News
Thursday, September 20 2018
Four-plus-year renovation of legendary property results in tourism destination, promise of 100 new jobs
Milville, KY — At the opening of Castle & Key Distillery, Governor Matt Bevin congratulated the company’s leaders on their $30 million renovation – a project expected to create 100 jobs in the coming years – and welcomed the public’s return to the restored, long-dormant grounds of the former Old Taylor Distillery Co. in Woodford County.
“In the middle of an international resurgence of Kentucky’s bourbon industry, we welcome Castle & Key as another crown jewel of spirits production, tourism and hospitality,” Gov. Bevin said. “I commend the owners’ vision to resurrect the historic property and their team’s tremendous effort in renovating and preserving the buildings and grounds, creating jobs and, as of today, opening to the public.”
Monday, September 10 2018
70-job, phase II project will add ability to manufacture wider steel coils
Frankfort, KY -- Governor Matt Bevin congratulated Nucor Corp. on its plans for a $650 million, 70-job expansion at its mill near Ghent, Nucor Steel Gallatin, and thanked the company for its ongoing commitment to the commonwealth.
“Nucor is doing incredible things at its Kentucky steel mill. We are excited that, after a substantial investment in 2017, the company has decided to move forward with its phase II project and create additional job opportunities for the county and surrounding communities,” Gov. Bevin said. “The steel and primary metals industry are a driving force behind the commonwealth’s surging economy, and this announcement reflects the distinct advantages we have to offer engineering and manufacturing companies. Nucor is certainly a major player in this industry, and we are grateful for their commitment to continue forging success right here in Kentucky.”
Wednesday, September 05 2018
Dinner roll producer plans installation of new baking line
Frankfort, KY — Sister Schubert’s Homemade Rolls Inc., a major producer of frozen dinner rolls, has announced a $50 million phase I expansion of its manufacturing operation in Hart County expected to create 72 full-time jobs.
“It is a strong endorsement of the workforce in and around Hart County that Sister Schubert’s has selected Kentucky for this substantial expansion,” Gov. Bevin said. “These delicious dinner rolls have become a household name, and we are proud to support the continued growth of this marquee brand. Sister Schubert’s is quite literally a company on the rise, and we are grateful that they have found a recipe for success right here in the commonwealth.”
Wednesday, July 25 2018
South Korean manufacturer establishes first US plant in West Kentucky’s Calloway County
“We are grateful for DAE-IL’s decision to build its first US manufacturing facility here in the commonwealth, and we congratulate them on starting construction in Murray,” Gov. Bevin said. “Kentucky has a proven track record of successfully attracting and integrating businesses into our economy, and our relationship with another South Korean company set the stage for this opportunity. DAE-IL’s significant investment will create great jobs for citizens of Calloway County and West Kentucky, and we are confident that they will thrive and grow in the commonwealth.”
Company leaders expect the 295,000 square-foot plant, being built in the Murray-West Industrial Park, to open in May 2019. Employees at the new facility will manufacture automotive transmission gears.
Monday, July 09 2018
Nearly $18 million investment to support company’s digital and eCommerce services
Frankfort, KY — Only nine months after opening, a Kroger distribution center in Florence will add 250 full-time associates, majority full-time roles, as the company invests nearly $18 million at the facility to support its ecommerce and digital services, Governor Matt Bevin announced.
“It was less than a year ago that Kroger opened its distribution center in Boone County, and it is clear from this additional investment that the company recognizes Northern Kentucky as the best possible location for further success and growth,” Gov. Bevin said. “Distribution and logistics is a thriving industry in the commonwealth, and this announcement is just the latest confirmation of that fact. We greatly appreciate Kroger’s confidence in the Northern Kentucky region and its ongoing commitment to investing and growing in our state.”
Thursday, January 04 2018
Business climate improvement helps secure more than 17,200 jobs, highest number in 17 years
Frankfort, KY — Shattering its previous investment record, Kentucky announced $9.2 billion in corporate expansion and new-location projects in 2017, bringing commitments to create more than 17,200 jobs, the most since 2000, Gov. Matt Bevin said.
“Kentucky’s record-setting performance this year in job creation and corporate investment is a direct result of the pro-business legislation, policies and programs we’ve enacted over the past two years,” Gov. Bevin said. “Due to our ideal geographic location, high quality of life, low costs for business operation and exceptional work force, we are confident that the economic future of Kentucky is very bright indeed. We are well on our way to becoming the globally recognized center of excellence for engineering and manufacturing in the United States.”
Friday, October 27 2017
Projects total $407.6 million in investments, about 250 jobs
Frankfort, KY — Governor Matt Bevin congratulated local officials and executives from Logan Aluminum Inc. and its parent companies on the opening of the aluminum plant’s phase I expansion in Logan County, as well as the groundbreaking of phase II of the project.
Together the expansions represent about $407.6 million in new investments, which are creating about 250 full-time jobs at the sprawling mill in southwest Kentucky.
“Logan Aluminum is a standard bearer of growth and foresight in its industry, and we are thankful for its decision to expand in Kentucky,” said Gov. Bevin. “Logan Aluminum is no stranger to diversification, making large-scale investments to increase beverage-can sheet production while simultaneously meeting an ever-increasing demand for automotive-grade aluminum sheet metal.
Thursday, October 19 2017
Ice-cream and coffee-stir stick manufacturer unveils facility capable of 2 billion-stick annual output
Corbin, KY -- Governor Matt Bevin joined local and state officials and executives from Smart Wood, a French family-owned manufacturer of ice-cream and coffee-stir sticks, to open the company’s Corbin facility — a 90-job, $15 million operation capable of producing up to 2 billion sticks annually.
“From our first meeting with Smart Wood’s executive team in France, I was confident this was a company that could thrive in Kentucky,” said Gov. Bevin, who toured Smart Wood’s headquarters and parent plant last year during an economic development mission to Europe. “Smart Wood is dedicated to producing high-quality products by using the latest advanced manufacturing equipment. They were looking to potentially locate in a region that would best support that vision. The Corbin area’s foresight in preparing for economic development, the region’s ready workforce and their abundant natural resources, made them the perfect fit for this company. We believe that Smart Wood will be the perfect fit for Eastern Kentucky as well. I’m grateful to celebrate with the company and community today, and I look forward to many years of continued success.”
Monday, October 16 2017
Montgomery County tract becomes the fourth certified in the commonwealth this year
Frankfort, KY -- In receiving Build-Ready certification for an industrial site this week, Mount Sterling became the fourth location designated this year and the 16th statewide since the program –designed to streamline site selection, construction and opening of new industrial facilities – began in 2014.
The nearly nine-acre tract, expandable to nearly 140 acres, includes a building pad that can accommodate a manufacturing facility of 50,000 to 100,000 square feet or more. The site, zoned for heavy industrial use, includes access to water, sewer, natural gas and electric.
Thursday, October 12 2017
Washington, D.C. — U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $30 million to support 35 projects in 15 states under the 2017 Assistance to Coal Communities (ACC 2017) initiative. The funding will assist locally-driven efforts to communities and regions severely impacted by the declining use of coal through activities and programs that support economic diversification, job creation, capital investment, workforce development and re-employment opportunities.
Tuesday, October 03 2017
Industrial repair business will create 12 full-time jobs near Glasgow
Frankfort, Kentucky — Froedge Machine and Supply Co. Inc., which provides repair services to local industries, will invest $690,000 and create 12 full-time jobs to locate a new operation in Barren County, Governor Matt Bevin announced.
“Froedge Machine and Supply is a great example of Kentucky’s manufacturers who are a driving force behind our state’s growing economic success,” said Gov. Bevin. “By growing their CNC machining, tool-and-die and metalworking capabilities, Froedge will add even more momentum and resources to Kentucky’s economy. Their growth will open new opportunities in the market and we are grateful to them for establishing a second location in the commonwealth.”
Thursday, August 31 2017
Danville, KY — Denyo Manufacturing Corporation (DMC) announced its plans for a major expansion to its facilities and operations in Danville.
The company will invest $8,676,000.00 for construction of an additional building and purchase of new equipment, while adding up to 90 new jobs to Danville-Boyle County’s tax base.
A new 63,000-SF facility will be constructed on the current Denyo campus for fabrication of sheet metal components used in generator and air compressor assembly. The new facility will include state-of-the-art equipment for cutting, bending, and welding of steel for complex structural components on-site.
Tuesday, June 27 2017
Continued growth, acquisitions bring need for new operational HQ
Frankfort, KY — Maxim Crane Works LP, the nation’s leading crane rental and lifting services provider, will build a $4.71 million office and create 100 full-time jobs in Wilder as it consolidates its operational offices in Kentucky, Gov. Matt Bevin announced.
“Maxim Crane Works is integrally involved in constructing our nation’s infrastructure, skylines, factories and amenities. They are also busy building on their own success here in the commonwealth,” Gov. Bevin said. “Kentucky is an attractive choice for corporate investment, thanks to recent improvements we’ve made to our business climate, a high quality of life and our gateway location between the Midwest and South. We are grateful for Maxim’s decision to grow in Kentucky and I look forward to the company’s success in the years ahead.”
Tuesday, May 30 2017
State also on pace to create most new jobs since 2006
Frankfort, KY -- In fewer than five months, companies pledged nearly $5.8 billion in new-facility investments and expansion projects in Kentucky, eclipsing the state’s full-year record from 2015 of $5.1 billion, Gov. Matt Bevin announced during a news conference at the Capitol.
Those corporate investments also put Kentucky on pace this year to create the greatest number of new jobs in a decade. To date in 2017, more than 9,500 new jobs have been announced. And the numbers for both jobs and investment are increasing daily.
“We are delighted by the fact that here, not even yet to the end of May, we are already in excess of $5.8 billion in economic development investment,” said Gov. Bevin. “The net result is a sense of enthusiasm within the business community like never before about Kentucky. The world truly is watching the Commonwealth, and we’re just getting warmed up.”
With Kentucky on Pace for Record Investment, Most New Jobs in a Decade, Sec. Gill Names Manufacturing Exec to Workforce Post
Monday, May 15 2017
Vivek Sarin’s broad private-sector experience to boost state’s workforce development efforts and business climate
Frankfort, KY — Less than five months into 2017, Kentucky is about to break its all-time, full-year capital-investment record of $5.1 billion in corporate projects. New jobs this year could surpass the nearly 16,200 announced in 2016, the most in a decade. To ensure Kentucky’s businesses can source the employees they need, leaders across state government are revolutionizing the commonwealth’s workforce development systems.
To focus on workforce-development initiatives, Sec. Terry R. Gill and the Kentucky Economic Development Partnership Board today named manufacturing executive Vivek Sarin as executive officer with the Cabinet for Economic Development.
Thursday, April 27 2017
High-tech company to invest $3.7 million
Frankfort, KY -- Interapt LLC, a tech development startup focusing on business innovation services and workforce development, will establish a new Louisville headquarters with a nearly $3.7 million investment and create 250 full-time jobs over the coming years, Gov. Matt Bevin and Louisville Mayor Greg Fischer announced.
“Interapt has dedicated itself to creating a pipeline of highly qualified software developers in Kentucky, and their work is catching the attention of a national tech industry,” said Gov. Bevin. “The tremendous work of founder and CEO Ankur Gopal, and his team, serves to further establish Kentucky as a premier location for high-tech businesses. With its new corporate office, Interapt will invest in both its own future and that of the commonwealth’s tech industry, and we are thankful for their continued commitment to Kentucky.”
Wednesday, December 21 2016
Cattle feed producer will create 30 full-time jobs with nearly $2.3 million investment
Frankfort, KY — Governor Matt Bevin announced Performance Feeds LLC, a manufacturer of nutritional feed products for cattle, will relocate its primary production facility from Tennessee to Bowling Green with a nearly $2.3 million investment expected to create 30 full-time jobs.
“We are grateful for Performance Feeds’ decision to relocate its primary production facility from Tennessee to Bowling Green,” said Gov. Bevin. “Performance Feeds has built a reputation as a dependable provider of nutritional cattle feed for nearly 15 years. It’s a testament to our southcentral region, booming agriculture industry and the Commonwealth as a whole that the company selected Kentucky in its search for a strong workforce and an environment supportive of future growth.”
Governor Bevin names Terry R. Gill, Jr. as Secretary of the Kentucky Cabinet for Economic Development
Wednesday, December 14 2016
Frankfort, KY -- Governor Matt Bevin announced the appointment of Terry R. Gill, Jr. as Secretary of the Kentucky Cabinet for Economic Development.
The Cabinet is the primary state agency responsible for encouraging new jobs and investment in the state. Gov. Bevin says Gill is the right choice to help lead the Commonwealth to new heights.
“Kentucky is poised for unparalleled success in the years ahead,” said Gov. Bevin. “Thanks to a new pro-business majority in the legislature and our focus on eliminating bureaucratic red tape, Kentucky is becoming more business-friendly by the day. Terry brings integrity, business competence and a passion for economic development that will foster a stronger environment for job creation in every region of Kentucky.
Wednesday, November 16 2016
Newly opened facility’s overall investment to top $178 million
Frankfort, KY -- Champion Petfoods USA will add production capacity at its recently opened DogStar Kitchens in Auburn, taking its total employment to 200 and overall investment to more than $178 million in Logan County, Gov. Matt Bevin announced Wednesday.
“We are grateful for Champion Petfoods’ continued investment in the Commonwealth,” said Gov. Bevin. “Their decision reaffirms what many companies have also discovered. Kentucky is an ideal location for manufacturing, distribution and logistics. This expanded operation in Logan County will benefit the entire region, and we look forward to Champion Petfoods’ ongoing success.”
In January, Champion started cooking in its first U.S. kitchens, a 147-job, $120 million production and distribution center. The Logan County facility spans 371,000 square feet on an 85-acre site. Since announcing the initial project in 2014, Champion opted to add a third production line, thanks to anticipated demand in the U.S. and Latin America, while maintaining the facility’s overall size.
Wednesday, October 26 2016
Daviess County Fabrication and design firm invests $4.4 million in Owensboro property, creating 30-plus jobs
Frankfort, KY -- Governor Matt Bevin congratulated Castlen, a fabricator and designer of material-handling equipment and infrastructure, on opening its $4.4 million industrial site in Owensboro, an expansion that created 30 jobs and will likely spur more in the future.
“Where else but in Kentucky can a husband-and-wife welding operation begin in their garage and quickly grow into an industrial-scale design and fabrication company?” remarked Gov. Bevin. “In eight short years Castlen went from a startup to a 50-employee operation handling multimillion projects for agribusiness and industrial customers. We are thankful for the hard work of forward-looking companies like Castlen that reinforce Kentucky’s reputation as an international hub for manufacturing excellence.”
Friday, September 30 2016
Addition to bring 25 jobs, state-of-the art equipment, more production capacity
Frankfort, KY -- Governor Matt Bevin announced UniFirst Corp., one of North America’s largest workwear and textile service companies, will add up to 25 jobs to support a $12 million expansion of its Owensboro distribution center.
“The growth of UniFirst in Owensboro shows that forward-thinking companies in Kentucky are receiving the resources they need to expand. We are grateful for their continued investment in the Commonwealth,” Gov. Bevin said. “We extend our congratulations to the company’s local and national management teams and look forward to their continued success.”
Monday, September 19 2016
Frankfort, KY -- Steel Ventures Inc., an affiliate of Huntington-based Steel of West Virginia Inc., plans a $16 million buildout of an existing facility in Wurtland to establish a 65-job galvanizing and distribution operation.
“Our administration is committed to helping breathe new life into the eastern Kentucky economy. Significant investments from companies like Steel Ventures are essential to achieving that goal,” Gov. Matt Bevin said. “These newly created jobs will greatly benefit the region and grow Kentucky’s metals industry. I am grateful to Steel Ventures for this continued investment in eastern Kentucky.”
From Steel Ventures’ Wurtland complex, the new plant will meet the demand for galvanizing both regionally and nationwide. It will allow the company to coat a variety of products including truck trailer cross members, I-beams, guardrail posts, complex fabricated assemblies and parts.
Global Clinical Trials Firm CTI to Locate Headquarters in Covington, Create 500 Kentucky-Resident Jobs
Wednesday, August 17 2016
Company to invest $36.4 million in move to Northern Kentucky, sees long-term employment growth in urban center
Frankfort, KY -- Governor Matt Bevin announced CTI Clinical Trial and Consulting Services, a global, privately held company providing therapeutic expertise to the pharmaceutical and biotechnology industries, will relocate its headquarters to Covington with a $36.4 million investment projected to create up to 500 Kentucky-resident jobs.
“We are grateful for the decision by CTI to move its headquarters to Northern Kentucky and bring with them hundreds of highly skilled jobs,” Gov. Bevin said. “Our administration and local officials are committed to providing the space and resources needed for CTI to continue its growth in the years ahead. CTI is a recognized leader in the life sciences industry and we are delighted to welcome them to Kentucky.”
Monday, August 01 2016
Robotics, machine-tool provider will increase its showroom, engineering and automation group space
Frankfort, KY -- Meredith Machinery LLC, a Jeffersontown-based machine-tool provider that designs and installs automated metal-cutting systems, plans to build a $2 million facility and add 10 full-time jobs.
“Kentucky’s manufacturing industry, which makes products known and revered around the world, relies on companies like Meredith Machinery for engineering, equipment and production expertise,” said Gov. Bevin. “With this expansion, Meredith Machinery contributes to our growing manufacturing sector in the Commonwealth. We applaud them on their continued success and look forward to assisting their further progression in the months and years ahead.”
Monday, June 06 2016
Chicken producer to expand production with new machinery at Graves County facility
Frankfort, KY -- Gov. Matt Bevin congratulated Pilgrim’s Pride Corp., a leading poultry producer, on announcing a $24 million project to increase production and create about 140 jobs for Kentuckians at its Graves County plant.
“Pilgrim’s Pride, a strong corporate partner in Kentucky since 1990, has grown its business across the globe and has become a well-respected household name,” said Gov. Bevin. “We are thankful for the company’s reinvestment in Graves County. It will have tremendous impact on southwest Kentucky through new jobs, additional production and increased sales for area growers, farmers and feed suppliers. We are working every day to make the Commonwealth even more supportive of developments like this, and are grateful to Pilgrim's Pride for leading the way for others to follow.”
Wednesday, June 01 2016
Roofing and siding manufacturer will add equipment for new panel production line
Frankfort, KY -- Governor Matt Bevin announced Pride Industries Inc., an architectural building products manufacturer and installer, will expand its Union County operation with a $150,000 investment that will create 10 full-time jobs.
“When a Kentucky based, family owned company decides to reinvest and diversify with new products, we will do everything in our power to ensure that growth occurs right here at home,” Gov. Bevin said. “The addition of Pride Industries’ new production line not only means new jobs for north western Kentucky, but establishes the company as a leading source for aluminum composite metal wall panels which are increasingly in demand. We extend our congratulations to Pride and Union County on this expansion and look forward to many more years of continued growth in the future.”
Tuesday, April 26 2016
Software development and IT support firm to create 10 full-time jobs
Frankfort, KY -- Advanced Business Solutions (ABS), which designs and implements software for the medical and banking industries, plans to buy a nearby building to expand its Louisville operations with a $2.5 million investment and 10 full-time positions, Gov. Matt Bevin and Louisville Mayor Greg Fischer announced.
“As a Jefferson County corporate citizen of more than 20 years, Advanced Business Solutions has proved to be a great partner for both the local community and Kentucky,” Gov. Bevin said. “The company’s decision to expand comes as welcome news. It means more jobs and positive economic impact, as well as a stronger IT industry in the Commonwealth.”
Friday, April 22 2016
Family owned company to invest more than $11.1 million, create 150 jobs in Walton
Frankfort, KY -- Governor Matt Bevin announced Sherwood Bedding, a fast-growing independently owned manufacturer, will locate a 174,000-square-foot mattress production factory in Walton, investing approximately $11.1 million in its operation and creating up to 150 jobs.
Friday, April 01 2016
By Liz McEwan
Sweet Tooth in Newport serves family-recipe confections year round
Hebron, Campbell County, Bellevue, Boone County, Erlanger, Newport, KY -- The Easter candy season is upon us, and Northern Kentucky residents won’t have to travel far to find everything they need to stock those baskets. In fact, Northern Kentucky is home to a wide range of purveyors who have been producing sweet treats — while creating jobs and stabilizing communities — for decades.
In Bellevue, the Schneider family of chocolatiers claims 100 years of experience in candy making and operates two independent candy and ice cream shops in the NKY region.
Friday, March 25 2016
By Hannah Purnell
Independent grocers like Gutierrez Deli in Covington are carrying more fresh produce
Northern KY -- In its first year of implementation, the myNKY regional plan has made important strides toward elevating the quality of life for Northern Kentuckians. But according to those charged with developing and managing the plan, there is still work to be done — particularly in the areas of health and wellness.
Wednesday, March 16 2016
Genomics testing company adding 130 jobs with nearly $12.5 million investment
The area’s shipping and distribution infrastructure helped draw the 130 job, $12.5 million facility, an investment by a division of Eurofins Genomics, a global provider of genomic products and services including DNA/RNA synthesis and DNA sequencing.
“We are pleased to welcome Eurofins Scientific to Kentucky and excited about creating jobs in the promising career field of genomics right here in Louisville,” said Governor Matt Bevin. “We are glad they will be taking advantage of the many logistical capabilities that are unique to Kentucky. This is a testament to the quality of Louisville's workforce and further indication that Kentucky is open for business.”
Wednesday, February 17 2016
Jobs, projects, capital investment and new business sales rose significantly over 2015
Fort Mitchell, KY -- Northern Kentucky Tri-ED honored 22 companies that located, expanded or were launched in the region in 2015 at its annual recognition event, the Northern Kentucky Thoroughbreds, today at the Drees Pavilion. The 2015 Northern Kentucky Tri-ED Annual Report was released highlighting the direct and indirect impact of jobs and investment from primary industry companies and entrepreneurs.
“All of our economic indicators rose significantly in 2015, making it an excellent year for the three county region,” said Boone County Judge Executive Gary Moore, NKY Tri-ED Board Chair. “Northern Kentucky Tri-ED facilitated more projects and capital investment than in the previous three years, all significant contributions to the success of the Cincinnati MSA’s economy in 2015.”
Thursday, January 28 2016
$300M in investment and nearly 160 new jobs planned by two companies
Covington, KY -- Northern Kentucky Tri-ED announced today that expansions by FedEx Ground Package System Inc. and Messier-Bugatti USA, LLC in Northern Kentucky were presented to the Kentucky Economic Development Finance Authority (KEDFA) Board for approval.
“Northern Kentucky is proud to kick off 2016 with growing manufacturing operations such as Messier-Bugatti and logistics companies like FedEx expanding in our region,” said Dan Tobergte, president and CEO of Northern Kentucky Tri-ED. “Through NKY Boost, our business retention and expansion program, we facilitate investment and growth by our primary industry companies which ultimately leads to new jobs in our region.”
Friday, December 11 2015
Company cites Kentucky pro-business program in decision to move
“I am delighted to announce the relocation of nanoRANCH’s headquarters to Lexington from Texas. We will continue to attract exciting new companies, jobs and investments as Kentucky moves forward,” said Gov. Bevin. “With its research aimed at improving the quality of life for people across the world, I expect nanoRANCH to flourish in the Commonwealth as it continues its innovative work. They are a great example of the thought leaders that we are actively seeking in Kentucky.”
Friday, October 30 2015
Company investing more than $13.1 million to create 54 full-time jobs
Frankfort, KY -- Bowling Green-based American Howa Kentucky Inc. (AHK), a manufacturer of interior products for the automotive industry, will create 54 full-time jobs through an investment of more than $13.1 million in a new facility in Midway, Gov. Steve Beshear announced.
“The automotive industry is a major factor in the success of Kentucky’s economy,” Gov. Beshear said. “With that, so too are the automotive suppliers who ensure the industry thrives in the Commonwealth. Auto manufacturers and suppliers contribute more than $6 billion in payroll to Kentucky workers annually. With announcements like American Howa Kentucky’s, we know that figure will continue to climb."
The construction of a 60,000-square-foot facility in Midway Station Industrial Park will allow AHK to supply the nearby Toyota Motor Manufacturing Kentucky facility in Georgetown with headliners for the Toyota Camry.
Thursday, October 29 2015
$57 million expansion marks company’s 6th since 2006
Frankfort, KY -- Kobe Aluminum Automotive Products LLC (KAAP), a supplier for the automotive industry, will add 112 jobs with a $57 million investment in its Bowling Green facility, Governor Steve Beshear announced.
“Kobe Aluminum Automotive Products has enjoyed great success since locating in the Commonwealth in 2005,” Gov. Beshear said. “This expansion will help the company continue to work hand-in-hand with the changing auto industry and its emphasis on using aluminum.”
The more than 116,000-square-foot addition will provide KAAP with capacity for substantial equipment upgrades. The company anticipates growing its business in coming years, and the expansion will support those changes. Construction will begin in December and is expected to be finished by October 2016.
Thursday, October 29 2015
Germany-based auto supplier creates 110 jobs through $130 million investment
Bowling Green, KY -- Governor Steve Beshear joined BILSTEIN GROUP officials and community leaders to mark the groundbreaking of BILSTEIN COLD ROLLED STEEL LP at the Kentucky Transpark in Bowling Green and to celebrate 110 jobs created through the company’s $130 million investment.
“We couldn’t be happier to welcome BILSTEIN’s new investment in Kentucky,” said Gov. Beshear. “The Commonwealth maintains great relationships with German companies, and BILSTEIN’s addition reiterates the importance of those relationships. With 64 German-owned facilities employing 10,500 full-time workers across the state, it shows our efforts in attracting those companies to Kentucky make a positive impact.”
BILSTEIN COLD ROLLED STEEL LP is a subsidiary of the family-owned German steel processor BILSTEIN GROUP, Europe’s largest supplier of cold-rolled products. The company will build the 250,000-square-foot cold-rolling steel manufacturing facility in Warren County to better serve its North American automotive industry customers.
Northern Kentucky Tri-ED Promotes Kevin Donnelly and Kate Ferrer, Establishes Business Development Unit
Tuesday, October 27 2015
Covington, KY -- Northern Kentucky Tri-ED announced that two key economic development professionals have been promoted and will work within the newly established business development unit, led by Wade Williams, SVP. Kevin Donnelly is now Senior Manager, Business Retention & Expansion (BR&E) & Informatics Projects, and Kate Ferrer is now Senior Manager, Marketing & Projects. The promotions coincide with the alignment of marketing, business retention & expansion (BR&E) as well as project support within the new business development unit.
“Kevin has been a key resource in the success of NKY Boost, our award-winning BR&E program, and facilitating investment and expansions by our existing companies,” said Dan Tobergte, President & CEO of Northern Kentucky Tri-ED. “As an alumni of Northern Kentucky University’s undergraduate and graduate programs, Kevin is an ideal fit to manage informatics projects and connect businesses with technology resources in Northern Kentucky.”
Wednesday, October 21 2015
$360 million investment, 1.5 million training hours brings popular ES 350 to American assembly line for first time
Georgetown, KY -- When Toyota introduced Lexus to the U.S. market in 1989, the Georgetown, Ky., plant – its first stand-alone vehicle manufacturing facility in America – was just in its second year of producing the Camry.
Experience the interactive Multimedia News Release here: http://www.multivu.com/players/English/7655351-lexus-kentucky-plant-es-350/
Fast forward 26 years and that same plant is celebrating the start of U.S. Lexus production. Today at a ceremony fit for a luxury brand king, the first-ever U.S.-produced ES 350 was unveiled before several thousand proud team members in Georgetown. And, just like a newborn foal at the nearby horse farms in Central Kentucky, the newcomer was brought into the world with plenty of TLC and hope for a bright future.
Thursday, October 08 2015
Covington, KY -- The International Economic Development Council (IEDC) presented Northern Kentucky Tri-ED with a Gold Excellence in Economic Development Award for NKY Boost, in the category of Business Retention & Expansion – Program of Three Years or More for communities with populations of 200,000 – 500,000.
Northern Kentucky Tri-ED was honored at an awards ceremony on Monday, October 5, during the IEDC Annual Conference, which was held October 4 - 7, in Anchorage, Alaska.
“From localized community projects, to large scale endeavors, economic development efforts have played a vital role in the global economy,” said JoAnn Crary, CEcD, Chair of the International Economic Development Council and President of Saginaw Future Inc. “As we address new and longstanding challenges, these efforts continue to take on even greater importance. The award serves as a salute to pacesetting organizations like the Northern Kentucky Tri-ED for leading the charge."
Thursday, September 24 2015
Company to invest nearly $2.4 million, create 52 jobs
Lexington, KY -- A University of Kentucky alumna is bringing her business to the Commonwealth. Lieutenant Governor Crit Luallen and Lexington Mayor Jim Gray announced UK graduate and Innovative Mattress Solutions CEO Kimberly Brown Knopf will locate her company’s headquarters in Lexington.
Innovative Mattress Solutions (IMS), operating in Kentucky as Sleep Outfitters, has mattress stores in six states. IMS will create 52 jobs and invest nearly $2.4 million in the project.
“This is a momentous occasion for Innovative Mattress Solutions and Lexington,” said Gov. Steve Beshear. “I’m excited the company is expanding its successful Kentucky operation and establishing its headquarters here. I’m proud to welcome home a fellow University of Kentucky alumna who has gone on to enjoy great success as an entrepreneur.”
Where Opportunity Knox Hits Milestone Connecting More Than 1,000 Veterans with Jobs in the Greater Louisville Region
Monday, June 01 2015
Louisville, KY -- Where Opportunity Knox, a regional initiative to connect 10,000 transitioning Veterans and/or military spouses to jobs and the Greater Louisville Region by 2017, announced that it has reached an initial milestone with more than 1,000 Veterans connected with employment opportunities throughout the region.
Monday, March 09 2015
Investors already approved for two-thirds of the money allotted for the Kentucky Angel Investment Tax Credit
Frankfort, KY -- The Kentucky Angel Investment Tax Credit is a hit among investors. Because of the strong interest, investors wanting to apply should act soon because of the limited funds still available.
In the program’s first two months, 64 angel investors – people who provide capital for startup companies – announced plans to invest $5.4 million in 17 Kentucky businesses. As a result, those investors are eligible for $2.1 million in angel investment tax credits after making their approved investments. That’s more than two-thirds of the state’s allotted angel tax credits for all of 2015.
Monday, March 02 2015
Automotive supplier to add state-of-the-art production line
Frankfort, KY -- Gov. Steve Beshear announced that NHK of America Suspension Components Inc. (NASCO) is planning a $15 million expansion in Bowling Green.
NASCO will invest $15.2 million to construct a new building next to its existing facility on Nashville Road. The project will be completed in the next two years.
“NASCO demonstrates why Kentucky’s reputation continues to grow as an ideal location for automotive manufacturers and suppliers,” Gov. Beshear said. “We’re thrilled to partner with the company and are excited about this significant expansion in Bowling Green.”
Tuesday, February 10 2015
Federal ruling issued approves port authorities’ request for re-designation of regional harbor
The Ports of Cincinnati & Northern Kentucky -- The Port of Greater Cincinnati Development Authority and the Northern Kentucky Port Authority are pleased to announce formal final approval to re-designate the Port of Cincinnati to include a larger geographic region was recently received.
The United States Army Corps of Engineers has issued approval for modification of the Port of Cincinnati 26-mile statistical boundary. The Army Corps Navigation and Civil Works Decision Support Center issued the approval of the expansion and the name change to “The Ports of Cincinnati & Northern Kentucky.” The port district now includes a 226.5 mile reach of the Ohio River, including a 7-mile reach of the Licking River, in 15 counties.
Tuesday, February 10 2015
Company plans to increase its Kentucky workforce by a third; modernize facility
Frankfort, KY -- More jobs are coming to southwestern Kentucky. Gov. Steve Beshear today announced Douglas Autotech Corp. plans to expand its operations in Christian County.
Douglas Autotech, a manufacturer of automotive controls, steering columns and shifters, is expected to create up to 115 jobs – a more than 30 percent increase of its workforce – and invest $14.1 million into the project.
“This is an outstanding day for Hopkinsville and the Commonwealth,” said Gov. Beshear. “I’m thrilled Kentucky could partner with Douglas Autotech to make this possible and bring 115 new jobs to the area. The automotive industry is a key component of our economy, and Douglas Autotech adds to the strength and success of the industry in the state.”