Thursday, 04 11, 2013
Automation supplier adding 24 jobs, investing $6 million in expansion project
INDEPENDENCE, Ky. – Governor Steve Beshear today joined local and company officials to break ground on Balluff Inc.’s new U.S. headquarters building in Independence. The company expects to add 24 new, full-time Kentucky resident jobs and invest $6 million as part of the expansion.
“Balluff has found a successful home in northern Kentucky, with steady growth here over the past 30 years,” said Gov. Beshear. “We’re proud to have the company’s U.S. headquarters in Kentucky and especially happy to see the company continue to expand, adding 24 new jobs and investing $6 million in the Commonwealth.”
One of the world’s leading automation suppliers, Balluff specializes in products for industrial sensing, networking and identification devices. Balluff is the U.S. subsidiary of Balluff GmbH, based in Neuhausen, Germany. The company’s U.S. headquarters currently employs more than 150 people and has been located in Independence since 1983, with expansions in 1994 and 2001. The facility is the final assembly, distribution and training site for Balluff in the United States.
Balluff’s new 48,000-square-foot building is expected to be completed in March 2014 and will be a state-of-the art customer support, training, and sales and marketing center. The facility will include “green concepts” and worker-friendly features, such as 100 percent employee access to daylight from workspaces.
“Balluff is working hard to help keep jobs in America by offering our customers technology and expertise to increase their productivity, improve their quality and reduce their total cost of ownership, helping to make U.S. manufacturing the most productive in the world!” said Kent Howard, president of Balluff, Inc.
To encourage the investment and job growth in northern Kentucky, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $300,000 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 Balluff for tax benefits up to $150,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
“Balluff’s move confirms northern Kentucky’s high-profile in the automotive manufacturing industry,” said Sen. John Schickel, of Union. “We have the right people, the right geography and the right attitude about producing a high-quality product. I am confident that Balluff will prove to be a tremendous community partner.”
“Balluff’s groundbreaking here is not only testimony to our central geographic location but also a testimony to the high quality workforce we offer,” said Sen. Damon Thayer, of Georgetown. “I welcome Balluff with open arms and high hopes.”
“This is an exciting announcement and I join Gov. Beshear in welcoming Balluff Inc.’s new U.S. headquarters in our community,” said Rep. Adam Koenig, of Erlanger. “Today’s announcement is a continuing example of northern Kentucky’s competiveness in a global economy. We are proud to continue to provide a highly skilled workforce and business friendly tax climate. Through a collaborative effort between the public and private sector, we are maintaining our commitment to restoring the strength of our nation’s economy by growing new jobs in the private sector.”
“Balluff's continued expansion in Independence is an exciting sign of growth for the company, city and northern Kentucky,” said Independence Mayor Chris Moriconi. “We are thrilled to serve as this company’s partner in growth and look forward to surrounding it with a supportive business environment of success.”
“This is a company that placed roots in the community in 1986 and has expanded three times including today’s announcement,” said Boone County Judge-Executive and Chairman of Northern Kentucky Tri-County Economic Development Corporation Gary Moore. “We must continue to provide workforce and business solutions to Balluff as it adds such a solid base to our community. We are very appreciative of the investment in Independence and northern Kentucky.”
For more information on Balluff, visit www.balluff.com.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky.
A detailed community profile for Northern Kentucky can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=049.
For more information about Northern Kentucky, visit www.NorthernKentuckyUSA.com. Northern Kentucky Tri-ED can also be followed through social media channels via Facebook, LinkedIn, Twitter and YouTube. To sign up for NKY Thrives e-newsletter, please visit www.nkythrives.com.