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TL:DRKentucky Gov. Andy Beshear on Thursday announced $581.1 million of new investments in the state, including a major manufacturing expansion.
The largest investment is estimated at $490 million and will fund an expansion at the global headquarters of GE Appliances, a Haier Company, in Louisville, the governor's office said.The project will include a redesign of one of the company's buildings on its 750-acre Jefferson County campus so that it can accommodate the production of an additional combination washer and dryer line, as well as a new front load washer line, Gov. Beshear's office said. The manufacture of both lines – representing 15 models – is being reshored from China.The project, which will result in the creation of 800 full-time jobs, officials said, has won the state's economic support via a modification to an existing performance-based agreement it has with GE Appliances.
The company is now eligible for up to $113.5 million of tax incentives based on a total cumulative investment of $1.2 billion and meeting job creation goals."We are bringing laundry production to our global headquarters in Louisville because manufacturing in the U.S. is fundamental to our 'zero-distance' business strategy to make appliances as close as possible to our customers and consumers," said Kevin Nolan, president and CEO, GE Appliances. "This decision is our most recent product reshoring and aligns with the current economic and policy environment."
Also making an investment in Kentucky is Canadian-based plastics packaging producer E. Hofmann Packaging, which will spend $43 million on the construction and outfitting of a new 100,000-square-foot facility in Madisonville, Kentucky, according to the governor's office.
Construction on the new production plant should start this year and wrap up in 2026, officials said. The facility will serve as the company's second production facility and first operation in the United States and will create 164 new jobs.
Like GE, the state has approved Hofman for tax incentives – up to $2.3 million – based on the company hitting its investment and job creation targets.
Other Kentucky investments that Gov. Beshear announced this week include:
- $23.5 million from Tyson Foods for modernization and expansion of an existing production facility in Robards, Henderson County; approval for up to $3 million in tax incentives;
- $23.4 million from ValorFlex Packaging of Kentucky for a new advanced manufacturing facility in Bowling Green, Warren County; approval for up to $2 million of tax incentives; and
- $1.2 million from Curran Mill Machinery, doing business as Brewco Saw Systems, for an 11,000-square-foot expansion at an existing manufacturing facility in Central City, Muhlenberg County; approval for up to $400,0000 of tax incentives.
Since the beginning of the Beshear administration, according to the governor's office, the state has announced almost 1,200 private-sector new-location and expansion projects totaling approximately $36 billion.Mu Thoughts 💭
Tennessee is building back better! Brining manufacturing back to the USA. I never been to Louisville but adding 800 blue collar jobs to the market is good! The Beshear administration is doing a good job it appears.