KY: Bonfiglioli USA to Locate in Hebron, its 1st U.S. Site, and Hire 42
5 Dec, 2014
Lieutenant Governor Crit Luallen joined company officials and local leaders to cut the ribbon on Bonfiglioli USA’s expansion in northern Kentucky.
Bonfiglioli USA, a leader in power transmission for mobile and self-propelled machines, is opening its first U.S. production line. The Hebron facility, which also serves as the company’s North American headquarters, is expected to create up to 42 new jobs.
Gov. Steve Beshear applauded the project. “Bonfiglioli has found a successful home here in northern Kentucky. We’re proud to have the company’s first manufacturing line in the U.S., and especially happy to see this expansion,” said Gov. Beshear. “Kentucky continues to set the standard for advanced manufacturing, and companies such as Bonfiglioli are a big reason why.”
“Bonfiglioli’s expansion is part of a growing trend in Kentucky,” said Lt. Gov. Luallen. “More and more companies – both domestic and international – are learning that the Commonwealth has the workforce, infrastructure and support needed to take their operations to even greater heights.”
The expansion includes a new production line of planetary gearboxes for mobile machinery, which are used to support the construction, mining, agricultural and forestry industries. The Hebron production line will increase the company’s annual capacity to better serve demand in the U.S. market.
“When Bonfiglioli first established operations in the USA, we chose the northern Kentucky region because it had a lot to offer in terms of proximity to the airport and our clients, a solid economic strategy for growth and a talented and diverse workforce,” said Greg Schulte, President of Bonfiglioli North America. “We also received, and continue to receive, fantastic support from the Commonwealth of Kentucky and local organizations like Northern Kentucky Tri-Ed. We look forward to continued collaboration with the Commonwealth and others who are dedicated to growing the region and making northern Kentucky a great place to live and work.”
Bonfiglioli has operated an 80,000 square-foot facility on Hargrave Drive, near the Cincinnati/Northern Kentucky Airport, since 2007. The company currently employs about 90 people in northern Kentucky.
Bonfiglioli USA is subsidiary of Bonfiglioli Riduttori S.p.A., based in Bologna, Italy. With over 3,000 employees worldwide, Bonfiglioli operates production plants and branches in 17 countries.
“I congratulate Bonfiglioli on its success and continued growth in Hebron,” said Sen. John Schickel, of Union. “I also want to thank the company for its confidence in northern Kentucky and continuing to expand its operations and create new jobs for our residents.”
“We are honored that Bonfiglioli has chosen Boone County to launch its first U.S. production line,” said Rep. Addia Wuchner, of Florence. “The company’s investment in northern Kentucky is truly a testament to Bonfiglioli’s strength, the U.S. market and our local economy.”
“The establishment of a new production line in Boone County creates quality job opportunities in our region’s growing high-tech, advanced manufacturing sector,” said Boone County Judge-Executive Gary Moore. “We’re thrilled that Bonfiglioli chose to add this new capacity in Hebron and thank the company for its commitment to northern Kentucky.”
“Bonfiglioli’s expansion is a remarkable example of the thriving advanced manufacturing sector we have built in our region,” said Steve Arlinghaus, Kenton County Judge-Executive and chairman of Northern Kentucky Tri-County Economic Development Corporation. “Northern Kentucky Tri-ED is working with our existing manufacturers and primary industries to help facilitate expansions and create new jobs, exactly like this project, through NKY Boost, our business retention and expansion program.”
To encourage the investment and job growth in northern Kentucky, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives 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.
KEDFA also approved the company for tax benefits 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.
Learn more about Bonfiglioli at www.bonfiglioli.com.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter. Watch the Cabinet’s “This is My Kentucky” video on YouTube.
A detailed community profile for northern Kentucky can be viewed here.
For more information about Northern Kentucky Tri-ED, visit www.NorthernKentuckyusa.com. Northern Kentucky Tri-ED can also be followed through social media channels via Facebook, LinkedIn, Twitter and YouTube.