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Holley approved for incentives, adding operations in Franklin
Racing and Performance Auto Parts Manufacturer to receive up to $600,000 through KBI program, will invest $9.15 million, create 30 jobs in Western Kentucky
By Woody Maglinger/Jack Mazurak
Frankfort, KY - Holley Performance Products Inc., a top name in automotive racing and performance parts manufacturing and marketing, will establish a $9.15 million facility in Franklin, creating 30 full-time jobs.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in September preliminarily approved Holley for tax incentives up to $600,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, Holley can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
Holley will locate a distribution operation in a leased, 200,000-square-foot building in Franklin, expected to open in early 2018. The operation will be about 20 miles from Holley's corporate headquarters in Bowling Green.
The new facility brings the company's total Kentucky employment to approximately 330. Holley in 1952 located its carburetor manufacturing plant in Bowling Green and moved by its corporate headquarters in 1993.
Sen. David Givens, of Greensburg, noted the significance of the state's auto industry in welcoming Holley to Simpson County.
"With a multimillion dollar investment and the creation of new jobs, Holley Performance Products' location in Franklin is welcome news to our community," Sen. Givens said. "The auto industry is a crucial part of Kentucky's economic infrastructure, and I look forward to the company's success in our state and beyond."
Established by brothers George and Earl Holley in 1903, Holley is the world's largest marketer and manufacturer of specialty products for racing and performance customers in the automotive aftermarket. Its products include performance fuel injection, fuel pumps, intake manifolds, ignition products, exhaust and many other products for street performance, race and marine applications. Recognizable Holley brands include MSD Ignition, Mr. Gasket, Accel Ignition, Weiand superchargers, NOS Nitrous Oxide Systems, Hooker Headers, Flowtech, Edge, Superchips, and Earl's Performance Products, just to name a few. Holley carburetors and now fuel injection products have powered every NASCAR Sprint Cup team and nearly every NHRA Pro-Stock champion for the past four decades.
"We've been introducing innovative new product solutions that have driven growth in our business to the point that we are out of space in our current Bowling Green facility. This new location in Franklin will allow us to free up much needed floor space for more manufacturing production activities," said Terry Rutledge, Holley's senior vice president of operations.
Kentucky's automotive industry includes more than 500 facilities employing 100,000-plus people across the state. This year through August, the industry announced more than $3.9 billion in new facility investments and expansions, which are expected to create 3,100-plus full-time jobs.
This story was posted on 2017-09-28 14:41:29
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