Friday, 12 13, 2013
45 new jobs coming to Boone County as a result of $3.1 million investment
FRANKFORT, Ky. – Governor Steve Beshear today announced the opening of Tristate Valves & Controls Inc.’s (TRIVACO) new facility in Boone County. TRIVACO, a valve and automation hardware manufacturer, will create 45 jobs that pay an average of $45 an hour as a result of the company’s $3.1 million investment.
“I am delighted to celebrate the opening of TRIVACO, a leading provider of engineered products and solutions for the region,” said Gov. Beshear. “This investment not only adds 45 high-paying jobs for the citizens of Boone County and surrounding region, but it also demonstrates TRIVACO’s confidence in Kentucky’s quality workforce and business climate. I extend my congratulations to all who made this vision a reality.”
TRIVACO distributes and services specialty valves, actuators, actuation controls, valve monitoring instrumentation and equipment from leading manufacturers. The 40,000-square-foot facility, which contains a high-tech manufacturing facility and office space, is located in Hebron’s Riverview Business Park off I-275. It will be home to more than 60 current TRIVACO employees and will create about 45 new engineering, customer service and sales jobs in the next few years.
“TRIVACO has experienced significant growth over the last decade,” said Benjie Pieper, president of TRIVACO. “The move to Kentucky will enable us to continue this growth pattern and puts us in a position to best serve our existing customer base while also giving us the flexibility to explore other markets and opportunities. This reinvestment will help further establish TRIVACO as a leader in the marketplace”
The building was constructed with recycled, local materials to make the project environmentally friendly. The location will also allow TRIVACO to expand in the future.
To encourage the investment and job creation in Boone County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $350,000 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.
“This project is very exciting for Hebron and for Kentucky,” said Sen. John Schickel, of Hebron. “TRIVACO’s environmentally friendly approach to building is a new and exciting way of thinking. I appreciate the confidence TRIVACO has shown to northern Kentucky by choosing to call this home.”
“TRIVACO is the type of cutting-edge business and industry in which our region has seen recent success to help fuel our economy,” said Rep. Diane St. Onge, of Hebron. “It is yet another feather in the economic cap for northern Kentucky, and it further cements us as a destination for high-tech jobs.”
“We welcome TRIVACO to Boone County and wish them well in establishing their new operation in northern Kentucky,” said Boone County Judge-Executive Gary Moore. “Our region is a natural fit for manufacturing operations because of our quality workforce and logistical advantage.”
“Northern Kentucky Tri-ED is pleased to welcome TRIVACO to northern Kentucky and we look forward to their success,” said Steve Pendery, Campbell County Judge-Executive and chairman of Northern Kentucky Tri-ED. “Northern Kentucky is proud to have such a robust manufacturing presence, and TRIVACO certainly continues this trend by investing its headquarters and manufacturing operation in Boone County.”
For more information on TRIVACO, visit www.trivaco.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.
For more about the Northern Kentucky Tri-ED, visit www.NorthernKentuckyusa.com. Northern Kentucky Tri-ED can also be followed through social media channels via Facebook, LinkedIn, Twitter and YouTube.