KY: Governor Beshear Announces Meggitt Aircraft Braking Systems to Locate Second Facility in Danville
24 May, 2011
Company to create 63 new jobs, invest nearly $7.3 million
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Governor Steve Beshear recently joined community leaders and officials from Meggitt Aircraft Braking Systems, one of the leading aircraft wheels and brakes suppliers in the world, to announce the company will construct a second facility in Danville. The additional 156,000-square-foot operation, which is a result of consolidation from an out-of-state facility, will conduct final assembly and worldwide distribution of aircraft wheels, brakes and components. The project will create 63 new jobs and nearly $7.3 million in investment.
“I am thrilled that one of our existing industries has once again chosen the Commonwealth for new investment, bringing 63 new jobs as a result,” said Gov. Beshear. “This investment is proof that Kentucky’s competitive business climate and, specifically, the workforce and economic development efforts of the Danville/Boyle County community make it an easy choice for companies to locate and grow their operations in the Commonwealth.”
Meggitt Aircraft Braking Systems provides aircraft braking systems to a diverse group of customers, including airline operators, aircraft constructors, private aircraft owners and charter operators, governments and military operations, distributors and repair stations. The company currently employs 70 Kentuckians at its existing Danville facility, located at 190 Corporate Drive in the John Hill Bailey Industrial Park. The new operation, which will be housed in an existing industrial building recently purchased by the Boyle County Industrial Foundation for this project, is located at 120 Corporate Drive
“Meggitt has experienced great success and support from the city of Danville, Boyle County, the Boyle County Industrial Foundation and the Commonwealth of Kentucky,” said Tank Williams, senior vice-president of operations for Meggitt Aircraft Braking Systems. “We are proud of our current operation and look forward to the same opportunity with this new project. The current Danville operations are staffed by a great team and our experience there gives us confidence that the new facility will be just as successful. We have plans for the distribution center to be a Center of Excellence for Meggitt Aircraft Braking Systems.”
The Kentucky Economic Development Finance Authority preliminarily approved Meggitt Aircraft Braking Systems for tax incentives up to $2 million through the Kentucky Business Investment program. The performance-based incentive allows the 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.
“I commend all the local officials for making the best case that our community is a perfect fit for Meggitt,” said Sen. Tom Buford, of Nicholasville.
“Today’s announcement is a resounding endorsement of the quality workers our areas provides to companies like Meggitt Aircraft Braking Systems,” said Rep. Mike Harmon, of Danville. “That confidence is evident by the company’s decision to invest more than $7 million in our community, and the boost to our economy by creating more jobs for our citizens.”
“The location of Meggitt’s second operation in Boyle County is outstanding news for our community,” said Boyle County Judge-Executive Harold McKinney. “Meggitt has been a valuable asset to Boyle County for several years, and its expansion speaks volumes about the commitment and confidence the company has to the Boyle County workforce. On behalf of the county, I want to sincerely offer thanks to the governor and his administration for helping make this possible.”
“In the face of considerable economic challenges, I am so pleased at the news of Meggitt's new Danville facility,” added Danville Mayor Bernie Hunstad. “As mayor, I am thrilled at the new jobs this project will create. Meggitt has been a wonderful community partner since coming to Danville, and we appreciate its continued investment in our great city. When you think about it, this is the second time Meggitt has chosen Danville, and the quality of the company is a testament to our community."
For more information on Meggitt Aircraft Braking Systems visit http://www.meggitt-mabs.com.
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About the Kentucky Cabinet for Economic Development
The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2009 totaled nearly $ 977 million with the creation of more than 6,600 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.ThinkKentucky.com.