Apr 25, 2013 1:43 PM
Governor Steve Beshear on Thursday joined local leaders and company officials at a ribbon-cutting and grand opening for Nifco America Corp.'s expanded operations in Shelbyville. The Japanese-owned automotive supplier has invested more than $4.3 million to purchase new, state-of-the-art injection molding equipment and has spent $3 million to add 73,000 square feet to its existing 115,000-square-foot facility, creating 100 new jobs.
"Nifco America Corp. is a global leader in its field and has been a valuable member of the Shelbyville community for more than five years," said Gov. Beshear. "The multi-million dollar investment, with new equipment and expanded manufacturing capacity, will help drive this company forward to even greater success in the future, which is exactly what we want to see for the Commonwealth's thriving automotive industry."
Automotive and Japanese-based companies play a key role in Kentucky's economic strength. The Commonwealth is home to approximately 450 automotive-related industries that employ nearly 80,000 people. Japanese-owned companies operate more than 150 facilities in Kentucky, providing more than 37,000 full-time jobs.
Founded in Japan in 1967, Nifco added molding and assembly operations in Shelbyville in 2007. The company has added 73,000 square feet of manufacturing space at its plant on Hudson Boulevard in Shelbyville, and as part of the expansion, about 100 employees are expected to be added to the Nifco workforce by the end of 2013, bringing the total number to about 200 at the facility. The company's key customer, Toyota Motor Corp., is experiencing growth and utilizing local suppliers to support its operations. The expansion will give Nifco additional manufacturing capacity for injection-molded plastics.
"We would like to thank the Commonwealth of Kentucky, the Shelby County Industrial Foundation and the city of Shelbyville for their support with the establishment and development of our facility in Shelbyville," said Nifco America Corporation Vice President Bryan Kelley. "Due to this support, and the growth of our customer base, we have continued to grow our business at the Shelbyville facility since its opening in 2007. With this recent expansion, it will allow us to more than double our space for manufacturing capacity, which will allow this facility to continue to develop manufacturing processes to be globally competitive and allow Nifco to continue to grow locally."
To encourage the investment in Shelbyville, the Kentucky Economic Development Finance Authority preliminarily approved Nifco America Corp. for tax benefits up to $70,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
"Nifco's decision to expand is both welcome and an affirmation of our hard-working ethic and solid quality of life," said Sen. Paul Hornback, of Shelbyville.
"On behalf of the city of Shelbyville, I want to congratulate Nifco America on its expansion," said Shelbyville Mayor Thomas L. Hardesty. "Nifco America is increasing its capacity, and along with these improvements comes new jobs for our community. I wish Nifco America continued success and prosperity in Shelby County. I also want to thank the Beshear Administration for its continuing support of industrial development in Shelby County."
"We are pleased that the rest of the world has found out the quality manufacturing that is produced in the Nifco manufacturing facility, located in Shelby County, Kentucky," said Shelby County Judge-Executive Rob Rothenburger. "This is evident through the necessity of Nifco manufacturing by expanding and increasing assembly volume to meet customer demand."
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