Tuesday, 06 25, 2013
Automotive supplier to invest nearly $13 million in the Commonwealth
PADUCAH, Ky. – Governor Steve Beshear today participated in a groundbreaking for Whitehall Industries, which plans to create 150 jobs in Paducah and invest nearly $13 million in the project. The company manufactures aluminum components for the automotive industry.
“Kentucky is gaining a well-deserved reputation as a powerful engine for the automotive industry, and companies such as Whitehall Industries are a crucial part of that success,” said Gov. Beshear. “We’re excited to see 150 new jobs and a nearly $13 million investment in the Commonwealth, and we welcome Whitehall to Paducah.”
Kentucky’s automotive industry employs nearly 80,000 people at more than 450 motor vehicle-related facilities. The Commonwealth produced more than a million vehicles in 2012, putting Kentucky fourth in the nation in light vehicle production.
First established in 1974, Whitehall Industries began as a manufacturer of precision components for the copier industry. The company expanded into aluminum operations, growing into an industry leader in the manufacturing of automotive sunroof tracks. In 2010, Michigan-based SRS Industries LLC acquired Whitehall Industries.
The new facility will be built on Commerce Drive in Paducah, and will produce high quality and cost effective precision aluminum extrusions and machine fabricated components for the automotive industry. Due to fuel efficiency standards, the company plans to meet the demand of automakers to design more automobiles with aluminum.
“American manufacturing is the cornerstone of our economy, which creates real wealth for our nation and jobs for our people,” said Yogen Rahangdale, Whitehall Industries president and CEO. “I would like personally to thank the leadership of the Commonwealth of Kentucky, McCracken County, the city of Paducah and the Economic Development Corporation for making this project possible. This new location will allow Whitehall to grow profitably, providing jobs and other benefits to the local community.”
To encourage the investment and job creation in Paducah, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.5 million 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 is great news for Paducah and Kentucky, the intersection of two of our signature industries: aluminum and automotive manufacturing,” said Sen. Bob Leeper, of Paducah. “I am so pleased that our community can contribute to the resurgence of Kentucky industry.”
“I’m very excited and encouraged that Whitehall Industries is making such an important investment in our community,” said Rep. Gerald Watkins, of Paducah. “I hope we see many more partnerships like the one that helped bring this wonderful corporate citizen to Paducah.”
“This announcement, thanks to partnership between the Commonwealth, Paducah Economic Development, and McCracken County, comes at a critical time for Paducah-McCracken County and the surrounding area,” said Paducah Mayor Gayle Kaler. “Folks will have an opportunity to find good employment opportunities with Whitehall.”
“Whitehall is exactly the type of manufacturing company that any community in the United States would welcome with open arms,” said McCracken County Judge-Executive Van Newberry. “We are honored that they chose McCracken County.”
For more information on Whitehall Industries, visit www.whitehallindustries.com.
McCracken County has also been certified by the Kentucky Workforce Investment Board as a Work Ready in Progress Community. The certification is an assurance to business and industry that the community is committed to providing the highly skilled workforce required in today's competitive global economy.
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. Watch the Cabinet’s “This is My Kentucky” video at www.YouTube.com/ThinkKentucky.
A detailed community profile for Paducah (McCracken County) can be viewed at http://www.thinkkentucky.com/community.aspx?county=McCracken.