LOUISVILLE, Ky. — You can call it good news Monday for job seekers in Louisville and Kentucky. Monday Governor Beshear and Mayor Greg Fischer announced that an auto supply company out of Michigan will be creating more than 200 jobs.
According to a news release from Governor Beshear's office, Eberspaecher North America Inc., a system developer and supplier of exhaust technology, thermal management systems and automotive electronics, is expected to create 214 quality job opportunities.
The company will invest $30 million to establish a new operation in Louisville, Gov. Andy Beshear said.
"I want to thank Eberspaecher’s leadership for selecting Jefferson County and Kentucky for this project, and I look forward to following the company’s success well into the future,” Beshear said.
Eberspaecher will occupy over 125,000 square feet of an existing 314,500-square-foot facility at 7001 Greenbelt Highway in the Louisville Riverport, to serve its recently expanded customer base in the U.S.
Construction is scheduled to begin in May and be completed by August of this year.
Eberspaecher North America Inc., a system developer and supplier of exhaust technology, thermal management systems and automotive electronics.
“Welcome to Eberspaecher. I’d like to congratulate them for their first facility in the region, which means 200 new jobs here in Riverport,” Mayor Fischer said.
To encourage investment and job growth, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $4 million in tax incentives based on the company’s investment of $34.4 million and annual targets of:
- Creation and maintenance of 214 Kentucky-resident, full-time jobs across 10 years
- Paying an average hourly wage of $25 including benefits across those jobs.
More than 525 automotive suppliers and four automotive assembly plants currently operate in Kentucky, employing over 100,000 people throughout the state, the release states.