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Meggitt Aircraft expands in Danville, KY
Dedication of $9.3 million, 66-job project celebrates growth at wheel-and-braking systems producer, indicates potential future commitments
By Amanda Stamper
News from Gov. Matt Bevin's Communication
FRANKFORT, KY (Tue 18 Oct 2016) - Gov. Matt Bevin today joined local officials and executives from Meggitt Aircraft Braking Systems (MABS) to dedicate a 66-job, $9.3 million expansion of the company's Danville manufacturing and distribution campus, a location that could well see continued investment.
"Over the past decade, Meggitt Aircraft Braking Systems has become a substantial employer and a major player in Boyle County's economy," said Gov. Bevin. "This new expansion represents the company's ongoing commitment to central Kentucky and exemplifies the Commonwealth's increasing role in the global aerospace industry.
Corporate partners like Meggitt recognize and appreciate Kentucky's ideal location and highly skilled workforce for aviation and aerospace manufacturing. We are grateful for Meggitt's continued investment in the Commonwealth and look forward to working with them for many years to come."
During the two-part project, MABS relocated and integrated its wheel-and-brake maintenance and repair operations facility from Akron, Ohio to Danville. As well, the company expanded its carbon brake manufacturing capacity with three new production furnaces and related support machines. The expansion will help MABS meet current and future demand from new clients, including providing components for the Canadian Bombardier C-Series aircraft and Gulfstream 650 Business Jet.
"We're thrilled to expand the MABS Danville campus. Every time we've invested here, the community and state have reaffirmed this is the right location for future growth," said MABS President Luke Durudogan. "As we continue to evaluate our global footprint, we see the potential for additional opportunities in Boyle County."
MABS provides aircraft braking systems to a wide range of customers including airline operators, aircraft constructors, private aircraft owners, charter operators, government and military operations as well as distributors and repair stations. The company initially located its carbon brake manufacturing facility in Danville in 2005. In 2011 it added an assembly and distribution operation, bringing its total Kentucky investment to approximately $70 million. MABS currently employs about 185 people in Danville.
Aerospace products and parts remains Kentucky's largest export category by dollar amount. Last year, the state exported more than $8.7 billion worth. This year through July - the most recent monthly figures available - the Commonwealth's aerospace companies exported in excess of $6 billion in products and parts, putting the category nearly 22 percent ahead of the same months the year prior.
Sen. Chris Girdler, of Somerset, thanked the company for its latest investment.
"Meggitt Aircraft Braking Systems has been a great economic partner in Boyle County," he said. "I congratulate them on the successful completion of their expansion and thank them for investing in the citizens of Danville and those in the surrounding communities."
Rep. Daniel Elliott, of Danville, said the project highlights the community's growth.
"I congratulate Meggitt on their expansion, and thank them for their continued commitment to our region," Rep. Elliott said. "Our area continues to grow and Meggitt's investment proves not only that, but that we provide a dedicated and dependable workforce. This expansion should be celebrated by both Meggitt and our community. I wish them continued success and look forward to working with them in the future."
Danville Mayor Mike Perros noted the impact the project will have on the workforce.
"Meggitt's expansion is gratifying and welcomed for several reasons," he said. "Of obvious importance are the additional 66 well-paying jobs that will add to our local economy. Secondly, and not to be overlooked, is the validation that we have the workforce for the expanding aviation industry."
Boyle County Judge-Executive Harold McKinney said Meggitt's growth reflects a mutual commitment between the company and the community.
"We greatly appreciate the confidence Meggitt has shown in this community," Judge McKinney said. "This expansion demonstrates that Boyle County is an excellent place for businesses to thrive and prosper. It confirms our commitment to serve the industries that are already here even as we are recruiting new ones."
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in March 2015 preliminarily approved the company for tax incentives up to $1.7 million 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, Meggitt 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. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.
For more information on Meggitt, visit www.Meggitt-MABS.
A detailed community profile for Danville (Boyle County) can be viewed at www.bit.ly/BoyleCoKy>www.bit.ly/BoyleCoKy.
This story was posted on 2016-10-18 16:37:40
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