Tuesday, 05 28, 2013
Manufacturer of automation technology invests more than $1.7 million
FRANKFORT, Ky. – Governor Steve Beshear today announced the grand opening for Jacobs Automation in Erlanger, where the company is creating 26 jobs and investing more than $1.7 million in the project, which includes a new, 13,200-square-foot facility on Airport Exchange Boulevard in Erlanger.
“Jacobs Automation is an innovative company with revolutionary technology in its field,” said Gov. Beshear. “We are excited to see 26 new jobs and $1.7 million in investment, but we’re even more proud to have Jacobs Automation in the Commonwealth. The company is providing rewarding high-tech careers and adding even more quality to our talented workforce.”
Jacobs Automation manufactures automation technology for packaging, material handling and automated assembly. The company’s patented iTRAK® system provides independent control of multiple magnetically propelled movers on straight and curvilinear paths. The technology offers reduced changeover times, lower maintenance requirements and lower energy consumption than competing systems.
“iTRAK® is a disruptive technology that is reshaping the motion control industry,” said Keith Jacobs, CEO and founder of Jacobs Automation. “We are delighted with the response from our customers and the support of our suppliers and investors. The announcement of our collaboration with Rockwell Automation on Intelligent Track Motion Control Technology, together with this expansion, is accelerating our market penetration. Our two companies are working together on the connectivity between their respective platforms allowing our customers to standardize on a single control platform for small-to-large platforms.”
To encourage the investment and job creation in northern Kentucky, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $250,000 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 awarded Jacobs Automation state funding up to $250,000 from the Cabinet for Economic Development’s High-Tech Investment Pool, which is designed to build and promote technology-based and research-intensive companies and projects. The funds were used for prototype development and to purchase equipment and software.
“I congratulate Jacobs Automation,” said Sen. John Schickel, of Union. “Our community is blessed not only with competitive high-skilled employees, but we also continue to nurture a growing automotive industry.”
“Today’s announcement is just the latest on new business locating to Boone County or existing companies expanding operations,” said Rep. Addia K. Wuchner, of Florence. “We are proud that Jacobs Automation chose our community to set up operations and create new high tech jobs for our workforce, and we take great pride in the high quality employees and the outstanding quality of life that Boone County and northern Kentucky offer to businesses.”
“Innovative companies attract high-tech and quality talent,” said Gary Moore, Boone County judge-executive and chairman of Northern Kentucky Tri-County Economic Development Corporation. “We are so pleased that Jacobs Automation continues to grow in Boone County and look to win their continued confidence through a supportive business environment.”
For more information on Jacobs Automation, visit www.jacobsautomation.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://www.thinkkentucky.com/community.aspx?county=Boone.