Image via Wikipedia
Gov. Steve Beshear recently 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 to 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.”
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 www.thinkkentucky.com/edis/cmnty/index.aspx?cw=070.
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.
There are no comments
Please login to post comments