FRANKFORT Ky. (June 24, 2015) – Kentucky is building a robust manufacturing network, one business at a time. Gov. Steve Beshear today announced Karbec LLC is starting business with a facility in Hodgenville.
Karbec, which specializes in automated machinery for manufacturers, will create 48 jobs and invest $1 million into the project.
"Kentucky's location and strong manufacturing sector continues to attract businesses," said Gov. Steve Beshear. "I am pleased to welcome Karbec to Kentucky and eagerly anticipate the strength it will bring to the Hodgenville community and the Commonwealth."
The new businesses will design, build and install automated machinery for manufacturers in the region. According to Karbec officials, most of its competitors are located in Canada and the Detroit area, but the increasing number of automotive manufacturers in Kentucky makes the Commonwealth a great fit.
Karbec will predominately serve the automotive industry, but will be expanding to other sectors as well.
Kentucky is home to 465 motor vehicle-related establishments, which include four major auto assembly plants that employ nearly 85,000 people. Over the last five years, 335 motor vehicle-related projects have been announced in Kentucky, representing nearly 20,000 new jobs and more than $4.5 billion in new investment.
"We are very excited to be adding value to our Kentucky-based customers and the community," said Trinity Searcy, partner at Karbec. "We feel that local manufacturing plants will benefit from having a near-by company that can provide design, manufacturing and integration of automated solutions or improvements for their everyday issues or product changes. Typically, this type of support comes from several hours away. By being local, we hope to improve the communication, lead time, and cost of these services to the local manufacturers. We already have customers requesting help and are looking to add employees in the PLC and robotics field. The sooner that we can fill these positions, the sooner we can start having a positive impact on the local community and to our customers."
Karbec is a partnership between lifelong Kentucky residents Troy Fackler and Trinity Searcy and Ontario-based Dan Bekcic. Each member of the Karbec leadership team has extensive experience in manufacturing and will utilize that expertise as they launch this new business.
"I am extremely pleased with this announcement," said Rep. Terry Mills, of Lebanon. "Karbec has made an excellent choice to invest in facilities in Hodgenville. The strategic location and outstanding workforce there will prove to be a win for Karbec, the local community, and for Kentucky."
"These are the type of positions every community desires: jobs that enable our graduates and professionals to return home to live and work," said LaRue County Judge-Executive Tommy Turner. "We're very appreciative for Karbec's choice of LaRue County for its base. A cumulative effort on the part of our local economic development and its Director Bob Sims, the state Economic Development Cabinet and a strong boost by the private development sector have brought this to reality."
"We welcome the announcement of Karbec," said Ron Sanders, president of the LaRue County Industrial Foundation. "An announcement of this magnitude is long overdue with our community's central Kentucky location, quality school system and quick access to the interstate system. Karbec, and the added prosperity it will bring to LaRue County, is a welcome addition to our community."
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $500,000 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.
In addition, Karbec is eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no cost recruitment and job placement services, reduced cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 4,100 Kentucky companies.
For more information on Karbec, visit karbec.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. Watch the Cabinet's "This is My Kentucky" video on YouTube.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2014 totaled a state record $3.7 billion, spurring more than 15,000 projected new jobs. The Commonwealth also received Site Selection magazine's nationally acclaimed Governor's Cup for most economic development projects per capita last year. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.