Thursday, 05 23, 2013
Automotive aftermarket supplier to invest more than $6.5 million
FRANKFORT, Ky. – Governor Steve Beshear today announced Dorman Products Inc. (NASDAQ: DORM) plans to expand its Gallatin County facility, adding 80 new, full-time jobs and investing more than $6.5 million in the project.
“The automotive industry is a thriving part of Kentucky’s economy,” said Gov. Beshear. “We are excited to see Dorman grow in Gallatin County, creating 80 new jobs and investing $6.5 million. This is a company with a wide range of automotive products, literally covering all aspects of vehicles from bumper to bumper.”
Kentucky is home to nearly 450 motor vehicle-related facilities, employing nearly 80,000 people.
Dorman is a leading supplier of automotive replacement parts, automotive hardware, brake products and household hardware to the automotive aftermarket and mass merchandise markets. With more than 300 current employees at its Gallatin County facility, the company plans construction and an expansion of operations to accommodate a growth in sales.
“We are excited with the opportunity to expand our operation in Warsaw and to offer additional employment opportunities in that community,” said Steven Berman, chairman of the board and CEO of Dorman Products. “We have every confidence in our contributors to meet the challenges of growing our business.”
To encourage the investment and job growth in Gallatin County, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $1 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.
KEDFA also approved Dorman for tax benefits up to $200,000 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.
“I welcome Dorman Products,” said Sen. Schickel, of Union. “In partnership with them, northern Kentucky confirms that we are geographically and workforce ready in the automotive industry.”
“Today’s announcement is a great reflection of the quality workforce Gallatin County and the region provide to companies like Dorman Products,” said Rep. Brian Linder, of Dry Ridge. “We are appreciative of the company’s confidence in the high level of available workers by their decision to expand their facility. It also further cements Gallatin County and northern Kentucky as a key region in the automotive industry.”
“The city of Warsaw is pleased that Dorman Products has chosen to expand its current production facility,” said Warsaw Mayor Charles C.E. French. “We are excited at the prospects the Dorman Products expansion will have on our community, both for now and in the future. The company’s investment and creation of new jobs will produce a positive economic impact on the city of Warsaw and Gallatin County.”
“We congratulate Dorman on its latest expansion in Gallatin County and the commitment to our community,” said Gallatin County Judge-Executive Ken McFarland. “It’s an asset to have good companies like Dorman in Gallatin County. I certainly wish them prosperity and continued growth.”
For more information on Dorman Products, visit www.dormanproducts.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 Warsaw (Gallatin County) can be viewed at http://www.thinkkentucky.com/community.aspx?county=Gallatin.