Governor Ernie Fletcher’s Communication Office
Governor Fletcher Announces Dow Corning to Invest More than $60 Million in Carrollton
FRANKFORT, Ky. – Governor Ernie Fletcher and Economic Development Cabinet Secretary Gene Strong announced today that Dow Corning will invest more than $60 million in the company’s Carrollton facility. Governor Fletcher made the announcement at a special meeting of the Carroll County Fiscal Court.
The decision is driven by increasing worldwide demand for Dow Corning’s silicone-based products which are used in a variety of applications such as construction sealants, personal care products, electronics and automobiles, among others.
“This tremendous investment reflects highly on the talented and hard-working citizens of Carroll County and Kentucky,” said Governor Fletcher. “Kentucky is proud to have a world-class company such as Dow Corning continue to expand its operations right here in the commonwealth.”
The project will expand Dow Corning’s Carrollton site capacity by more than 15 percent. Plans include hiring more than 30 full-time employees in the 2004-07 timeframe. The site, which opened for operation in 1966, currently employs approximately 370 people.
“The investment in Dow Corning’s Carrollton site will help us sustain our mission to meet our customer’s needs exactly,” said Scott Niswonger, site manager at Dow Corning’s Carrollton facility. “We appreciate our strong partnership with the community, as well as with state and local officials. We are proud to be a part of this community, and we look forward to our next 40 years here.”
Dow Corning, based in Midland, Michigan, received preliminary approval by the Kentucky Economic Development Finance Authority (KEDFA) for up to $1 million in tax benefits under the Kentucky Industrial Development Act (KIDA), an incentive program designed to increase employment in the commonwealth. A community profile of Carroll County may be found at the following link: http://www.thinkkentucky.com/edis/cmnty/cw065/Location.htm.
Dow Corning Corporation (www.dowcorning.com) provides performance-enhancing solutions to serve the diverse needs of more than 25,000 customers worldwide. A global leader in silicon-based technology and innovation, offering more than 7,000 products and services, Dow Corning is equally owned by The Dow Chemical Company and Corning, Incorporated. More than half of Dow Corning’s annual sales are outside the United States.
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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 2005 totaled nearly $1.7 billion with the creation of over 17,100 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.