Hendrickson USA to Expand in Somerset
3/28/2011 2:52:00 PM
SOMERSET, Ky. â€“ Gov. Steve Beshear joined community leaders and Hendrickson USA officials in Somerset, Ky. to announce the company will undergo a major expansion, creating 160 new, full-time jobs and investing nearly $8 million. The company will acquire a second facility in Pulaski County directly across the street from its existing plant on Pin Oak Boulevard.
Hendrickson USA, which located in Somerset in 2007, is a manufacturer and supplier of heavy-duty suspensions, axle systems and springs to the commercial transportation industry. The expansion will include the manufacture of semi-trailer axles, suspensions and related components in the new 100,000 square-foot facility.
"I am excited to announce that four years after the opening of our facility in Somerset, Kentucky, we are expanding our manufacturing operation here," said Gary E. Gerstenslager, president & CEO of Hendrickson USA. "Through hard work, our team here in Somerset has proven their dedication and loyalty to producing quality products. This expansion would not be possible without the support of the Commonwealth of Kentucky and the Somerset- Pulaski County Development Foundation. We look forward to a continued partnership with local and state officials that will continue to benefit Kentucky and Hendrickson."
The Kentucky Economic Development Finance Authority preliminarily approved Hendrickson USA for tax incentives up to $3.2 million through the Kentucky Business Investment program. The performance-based incentives will allow the company to keep a portion of its investment over a 15-year period through corporate income tax credits and wage assessments by meeting job and investment targets.
For more information on Hendrickson USA, visit http://www.hendrickson-intl.com/
Information on Kentucky's economic development efforts and programs is available at http://www.thinkkentucky.com/