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Governor Beshear Announces Sequa Automotive Group to Expand Manufacturing Operations in Morgantown Airbag Inflator Manufacturer to Add 280 New Jobs, Invest More than $7.2 million
Contact:
Kerri Richardson
502-564-2611
502-330-6633
Jill Midkiff
502-564-2611
502-330-1185
Mandy Lambert
502-564-7670
Jessica M.L. Thompson, Communications Director
270-781-3200; jessica@bgchamber.com
MORGANTOWN, KY (March 31, 2011) - Gov. Steve Beshear today joined community leaders and officials of Sequa Automotive Group in Morgantown to announce the company will expand its Butler County manufacturing facility. The company, which operates ARC Automotive Inc. and CASCO Products - suppliers to the global automotive industry, will add 280 new jobs by 2014 and invest more than $7.2 million in the Commonwealth.
"Sequa Automotive Group's decision to expand its Morgantown operations is fantastic news, one that brings 280 new jobs to the region," said Gov. Beshear. "Once again, Kentucky stands out as a prime location where automotive suppliers can grow and thrive. We're pleased to work with Sequa Automotive Group on this expansion and will continue to partner with the company to ensure its long-term success."
The existing CASCO Products facility in Morgantown, which has 70 employees, will expand to accommodate ARC Automotive inflator lines. Construction for the new manufacturing lines, which will produce airbag safety system inflators, will begin in April 2011 with operations expected to commence later this year.
"Sequa Automotive Group is pleased to expand our CASCO Products operation in Morgantown with the addition of ARC Automotive, Inc., another world-class automotive supplier," said Ali El-Haj, president of Sequa Automotive Group. "We look forward to building on our long-time relationship with the community of Morgantown."
The Kentucky Economic Development Finance Authority preliminarily approved Sequa Automotive Group for tax incentives up to $5 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.
"Today's announcement is a shot in the arm to the economy of Butler County," said Rep. C.B. Embry, of Morgantown. "This investment and expansion of jobs at Sequa Automotive is also an endorsement to the quality of the workforce in Butler County and surrounding counties as they increase their operations."
"We're very excited that Sequa Automotive Group and its business unit ARC Automotive Inc. will expand in Butler County at the company's existing CASCO Products facility," said Butler County Judge Executive David Fields. "We've enjoyed a very positive relationship with CASCO already, and look forward to building such a relationship with its sister company, ARC Automotive."
"This is a great day in Morgantown as we announce the addition of ARC Automotive to our community," said Morgantown Mayor Linda Keown. "We thank Sequa Automotive Group for investing once again in Morgantown/Butler County, and we also thank the Bowling Green Area Chamber of Commerce in assisting with this project's development."
"It's exciting to announce more economic growth in the South Central Kentucky region. We welcome Sequa's expansion of its business in Morgantown and Butler County, and we look forward to working with the company in the future," said Bowling Green Area Chamber of Commerce Chairman Rodney Rogers.
Rogers added, "Morgantown and Butler County have been partners with the Chamber in the Menu of Services program since its beginning, and we thank them for their continued investment."
In addition to the 280 jobs created over the next three years, this investment will indirectly create 65 new jobs in the community. Over a 10-year period, Sequa's expansion will bring nearly $5 million in additional taxes, which will benefit Morgantown and Butler County.
The announcement today is an example of the successful collaboration between state, county and city officials, along with many other parties including existing businesses and organizations.
This is the second economic development announcement involving the Chamber in 2011 thus far. With NHK of America Suspension Components (NASCO)'s announcement in February, nearly 400 manufacturing jobs will be added to the region over the next three years.
More information about both companies can be found at www.cascoproducts.com or www.arcautomotive.com.
Information on Kentucky's economic development efforts and programs is available at
www.ThinkKentucky.com.
A detailed community profile for Morgantown (Butler County) can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=070.
About the Bowling Green Area Chamber of Commerce:Incorporated in 1935, the Bowling Green Area Chamber of Commerce is a 5-Star Accredited Chamber by the U.S. Chamber of Commerce and was named the 2009 Chamber of the Year by the American Chamber of Commerce Executives. As the fourth largest chamber in Kentucky, the Chamber serves as a premier business advocate for its more than 1,300 partners and is the driving force for economic development in South Central Kentucky. Its primary goals are to promote growth and success in the business community, reaching its small business partners and those in large industries alike. With leadership programs, governmental relations projects, educational initiatives and involvement opportunities, the Chamber aims to support the community and its neighbors in order to enhance the business climate and continue to grow the region.
To learn more about the Bowling Green Area Chamber of Commerce, visit www.bgchamber.com.
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