Meggitt to Add 83 Jobs, Substantially Increase Carbon Brake Manufacturing Capacity in Danville
02 Settembre 2019 - 12:54AM
Business Wire
Meggitt PLC, an international company specializing in
high-performance components and sub-systems for the aerospace,
defense and selected energy markets, plans to significantly
increase its commercial and military aircraft carbon brake
manufacturing capacity in Boyle County, creating up to 83 full-time
jobs with a nearly $82.7 million investment, Gov. Matt Bevin
announced today.
“Meggitt has played a significant role in the economy of the
Boyle County community since locating there 13 years ago,” Gov.
Bevin said. “Currently employing more than 200 people, the company
continues its strong upward trajectory within the commonwealth’s
booming aerospace industry. We thank Meggitt for its commitment to
Kentucky, and we look forward to many more years of continued
growth.”
The project will allow the company to fulfill increasing orders
following recent contract awards for braking systems. The facility
already provides braking components for a number of customer
programs, including the Airbus A220 and A321, as well as for
Embraer, Gulfstream, Dassault and Bombardier. The new facility also
will serve as an MRO hub to meet rising demand for aircraft
maintenance. The 95,000-square-foot expansion would include new
carbon furnaces plus ancillary equipment, as well as upgrades to
existing machinery.
“Our order book has grown substantially in recent years and we
are also witnessing a significant increase in carbon brake demand.
It is a trend that is set to continue and this investment is an
essential part of our future strategy,” said Brian Bondarenko,
president of Meggitt Braking Systems. “Investing in Danville is a
natural choice for us. We have been operating here for over 14
years and we continue to increase capacity. Danville gives us ready
access to a rich talent pool and skilled employees, through this
investment we hope to increase our workforce over time.”
Sen. Rick Girdler, of Somerset, expressed gratitude to everyone
involved with making the project possible.
“I want to congratulate Meggitt for this major investment
affording them 83 new jobs,” Sen. Girdler said. “Thank you to all
those involved for prioritizing continued expansion, growth and job
creation here in the Danville community.”
Rep. Daniel Elliott, of Danville, thanked the company for the
job creation and continued growth.
“This announcement is very exciting news for our local economy,
as Meggitt’s expansion will add to their already strong presence in
Boyle County,” Rep. Elliott said. “As Kentucky’s number one export,
the aerospace industry continues to thrive and employ more of our
citizens, including right here in Danville. I want to thank Meggitt
for their investment and confidence in our community and workforce,
and look forward to seeing their creation of 83 new, quality
jobs.”
Danville Mayor Mike Perros said the company has been the ideal
corporate partner.
“The greatest compliment that an existing industry can pay to
its home community is to reinvest. Meggitt has done so time and
again,” Mayor Perros said. “We appreciate the continued confidence
that Meggitt has expressed in Danville with this major expansion.
Our community stands ready to support Meggitt, its management and
its employees as it grows with us.”
Boyle County Judge-Executive Howard P. Hunt III said the company
is a shining example of the type of success aerospace companies can
have in Kentucky.
“Meggitt’s rate of growth in Boyle County since 2006 has been
remarkable. The company’s increased operations have put our
community at the forefront of Kentucky’s aerospace industry,”
Judge-Executive Hunt said. “We welcome this significant new phase
of Meggitt’s expansion in our community. Aviation is a critical
aspect of Boyle County’s economy, and Meggitt’s investment
demonstrates that our community is the right location for aerospace
businesses to take flight.”
To encourage the investment and job growth in the community, the
Kentucky Economic Development Finance Authority (KEDFA) on Thursday
preliminarily approved a 15-year incentive agreement with the
company under the Kentucky Business Investment program. The
performance-based agreement can provide up to $1.4 million in tax
incentives based on the company’s investment of $82.68 million and
annual targets of:
- Creation and maintenance of 83 Kentucky-resident, full-time
jobs across 15 years paying an average hourly wage of $18 including
benefits across those jobs
- By meeting its annual targets over the agreement term, the
company can be eligible to keep a portion of the new tax revenue it
generates. The company may claim eligible incentives against its
income tax liability and/or wage assessments.
Additionally, KEDFA approved Meggitt for up to $350,000 in tax
incentives through the Kentucky Enterprise Initiative Act (KEIA).
KEIA allows approved companies to recoup Kentucky sales and use tax
on construction costs, building fixtures, equipment used in
research and development and electronic processing.
In addition, Meggitt can receive resources from the Kentucky
Skills Network. Through the Kentucky Skills Network, companies can
receive no-cost recruitment and job placement services,
reduced-cost customized training and job training incentives.
For more information on Meggitt, visit www.Meggitt.com
A detailed community profile for Boyle County can be viewed
here.
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,
follow on Twitter and watch the Cabinet’s “Now you Know” video on
YouTube.
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version on businesswire.com: https://www.businesswire.com/news/home/20190901005042/en/
Nicole Burton 502-564-261 Nicole.Burton@ky.gov Jack Mazurak
502-782-1965 Jack.Mazurak@ky.gov
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