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New Flyer of America to create up to 550 new jobs in KY
North American bus manufacturer to invest $40 million for parts-production operation in Bullitt County. Company eligible for up to $8.5 million in Kentucky Tax Incentives.
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By Woody Maglinger and Jack Mazurak
News from Gov. Bevin's Communications office
FRANKFORT, KY (16 Nov 2017) - Gov. Matt Bevin today announced New Flyer of America Inc. will create up to 550 full-time jobs as it invests $40 million to lease and upgrade a facility for bus parts fabrication in Shepherdsville.
"New Flyer's decision to locate in Kentucky further distinguishes the commonwealth as a top location for engineering and advanced manufacturing in the US," Gov. Bevin said. "The significant number of jobs coming to Shepherdsville and surrounding communities through this investment will be a major economic driver for years to come. We thank New Flyer for selecting Kentucky and congratulate officials and residents of Bullitt County on this major announcement."
New Flyer of America, a US subsidiary of New Flyer Industries Inc. (NFI Group), will build out a 300,000-square-foot facility in Shepherdsville. The $40 million investment includes $28 million for equipment and building preparations and $12 million across a 10-year lease. Company leaders expect to begin work this month and be in full operation by the end of 2019.
The operation will support the company's efforts to boost in-house production of components, which allows New Flyer to create jobs, increase competitiveness and improve its production processes. The facility will provide fabrication and parts to support all three NFI Group business entities: New Flyer, MCI and NFI PartsTM.
"We are proud to invest in jobs, infrastructure, innovation and manufacturing," said Paul Soubry, CEO of NFI Group. "By developing our insourcing initiatives, we build on a solid foundation to further create jobs, increase competitiveness and support more sustainable and reliable manufacturing and operations processes. We are proud to expand our presence in the State of Kentucky."
NFI Group, a TSX publicly traded company, is a North American leader in heavy-duty transit bus production and offers a robust line of transit buses under the New Flyer brand Xcelsior(R). The company also is a leader in North America's motor coach market, through its Motor Coach Industries Inc., and its NFI Parts entity provides parts, technical publications, training and support for NFI Group's buses.
NFI Parts currently operates in Kentucky, employing 176 people at parts distribution, customer service and tech-support centers.
Sen. Dan Seum, of Fairdale, welcomed New Flyer to Bullitt County.
"I am pleased to hear that New Flyer of America will be joining the Shepherdsville community with this $40 million investment and the creation of over 500 jobs," Sen. Seum said. "I know our region will serve this company well and I look forward to their success in Bullitt County and beyond."
Rep. Russell Webber, of Shepherdsville, said the company will have a long-lasting impact on the community.
"I am thrilled an American institution like New Flyer is locating its new facility in Bullitt County," Rep. Webber said. "The resurgence of manufacturing in Kentucky is benefitting our communities and the economy as a whole. The positive impact of New Flyer's investment and job creation in Shepherdsville will be felt for decades to come."
Shepherdsville Mayor Curtis Hockenbury welcomed New Flyer to the community.
"Shepherdsville has had great success the past several years and it is fantastic that New Flyer has found our city a great place to do business," Mayor Hockenbury said. "We have developed an overall business climate which has allowed economic growth to occur. Shepherdsville welcomes New Flyer and the good jobs it will create within our city.
Bullitt County Judge-Executive Melanie Roberts noted the significance of the scale of the project.
"We are certainly pleased to have New Flyer as a member of our corporate family," Judge-Executive Roberts said. "Adding up to 550 jobs will provide employment opportunities for members of our county as well as our surrounding counties. The $40 million investment will allow for greater services for our children. It is a big win for Bullitt County and the State of Kentucky.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) during a special meeting in November preliminarily approved the company for up to $8.5 million in tax incentives 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.
New Flyer also 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 year 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
For more information on New Flyer, visit www.newflyer.com.
A detailed community profile for Bullitt County can be viewed at http://bit.ly/BullittCo.
Information on Kentucky's economic development efforts and programs is available at ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter. Watch the Cabinet's "This is My Kentucky" video on YouTube.
This story was posted on 2017-11-17 03:53:24
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