Thursday, 01 30, 2014
Global auto manufacturer chose central Kentucky due to highly-skilled workforce, centralized location
FRANKFORT, Ky. – Governor Steve Beshear today announced Hendrickson USA LLC will establish a facility in Elizabethtown. Hendrickson, which manufactures suspension systems and components for heavy-duty vehicles, will create 75 jobs as a result of a $20 million investment.
“This is a welcomed investment in central Kentucky,” said Gov. Beshear. “The fact that Hendrickson decided to locate here is further testament to our highly-skilled workforce that is a cornerstone of our thriving auto industry. Hendrickson has been a tremendous corporate partner to the Commonwealth, and I’m excited for this opportunity to put more Kentuckians back to work.”
The Elizabethtown site will manufacture products to supply the company’s existing operations in nearby states. As the facility will be highly-automated, Hendrickson chose Hardin County for its available workforce, training programs and centralized location. The operation will be located in the T.J. Patterson Industrial Park. Construction of the 100,000-square-foot facility is expected to be completed later this year.
“I am pleased to announce that, once again, Hendrickson is expanding operations in Kentucky,” said Perry Bahr, vice president Trailer Commercial Vehicle Systems for Hendrickson. “Our team members in Kentucky have proven their dedication, loyalty and work ethic. Their efforts continue to help expand the Hendrickson business while maintaining our reputation in the commercial transportation industry as a global manufacturer and supplier of durable, dependable and quality suspension systems. This project would not have been possible without the support of the Commonwealth of Kentucky. We look forward to an on-going partnership with local and state officials to help Hendrickson, as well as the community, to continue to grow and prosper.”
Hendrickson is a leading global manufacturer and supplier of medium and heavy-duty suspension systems, axle systems, springs, and bumper and trim components. The company has two existing operations in Somerset and Lebanon, employing 450 Kentuckians.
To encourage the investment and job growth in Hardin County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.55 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 a tremendous opportunity for Hardin County,” said Sen. Dennis Parrett, of Elizabethtown. “We are excited to see Hendrickson bring 75 jobs and a multimillion dollar investment to the area, and we look forward to building on this partnership to bring even more jobs to the region.”
“It’s very exciting to see a high-tech global manufacturer choosing to call Elizabethtown home,” said Rep. Jimmie Lee, of Elizabethtown. “Hendrickson’s investment is proof that Elizabethtown’s highly-skilled workforce is second to none.”
“We have been anxiously awaiting the announcement of Hendrickson USA’s decision to locate a manufacturing facility in Elizabethtown,” said Elizabethtown Mayor Edna Berger. “The production of truck trailer products by such a strong company is an outstanding addition to our industrial backbone. We again are very fortunate that a quality company such as this will be bringing good jobs to our city and are confident that they will find an eager, skilled and dependable workforce.”
“We are pleased to welcome Hendrickson USA into our community’s industrial base,” said Harry L. Berry, Hardin County Judge-Executive. “Local development and the job creation resulting from adding new industrial partners such as Hendrickson to our community are essential to keeping our economy strong. The addition of Hendrickson will prove to be a great boost to our manufacturing base. We look forward to an excellent relationship with Hendrickson USA as they develop and grow their business for decades to come in Hardin County.”
For more information on Hendrickson USA LLC, visit www.hendrickson-intl.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 Elizabethtown (Hardin County) can be viewed here.