Truck suspension manufacturer to create 60 new jobs
Another Kentucky business is growing. Gov. Steve Beshear today announced Hendrickson Truck Commercial Vehicle Systems will expand its operations in Marion County.
Hendrickson, which manufactures suspension systems and components for heavy-duty vehicles, will create 60 jobs and invest $12 million into the project.
This is a welcomed investment in central Kentucky, said Gov. Beshear. The fact that Hendrickson chose to expand here is a further testament to our skilled workforce and thriving auto industry. Hendrickson has been a tremendous corporate partner to the Commonwealth, and we want to celebrate the companys success and the new jobs being created.
Hendrickson is a leading global manufacturer and supplier of medium and heavy-duty suspension systems, axle systems, springs, and bumper and trim components. The company opened its Lebanon facility in 1998 and currently employs 126 people.
Hendrickson plans to build out an adjacent shell building it purchased in 2007, in anticipation of future growth. This is the companys third expansion in the past decade. When the project is completed in early 2015, Hendrickson will operate nearly 229,000 square feet in Lebanon.
Hendrickson is very excited about the approval to move forward with the expansion project, said Richard Mudd, director of operations for Hendricksons Truck Division. There has always been a great working relationship with the city of Lebanon and the local economic development office that makes our decision to expand an easy choice. Kentucky has been a great state that continues to support our growth and long- term strategies.
Hendrickson Truck Commercial Vehicle Systems is a subsidiary of Hendrickson USA LLC. This is Hendrickson USAs second announcement in Kentucky this year. The company cut the ribbon on its new 100,000-square-foot trailer division in Elizabethtown in March. Hendrickson also has trailer suspension operations in Somerset. The three facilities combined employ nearly 450 Kentuckians.
To encourage the investment and job growth in Marion County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.5 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
For more information on Hendrickson USA LLC, visit www.hendrickson-intl.com