Governor Ernie Fletcher’s Communications Office
Governor Fletcher Announces Nifco Inc. to Locate New Facility in Shelbyville
Giant among plastics manufacturers plans $14.9 million investment, 151 jobs
FRANKFORT, Ky. – Governor Ernie Fletcher and Cabinet for Economic Development Commissioner J.R. Wilhite were in Shelby County today to participate in the announcement of Shelbyville’s newest corporate citizen. Nifco Inc., a Japan-based manufacturer of plastic injection molded fasteners for the automotive industry, plans to open an operation that will bring 151 new jobs to the commonwealth and an investment of $14.9 million.
“I congratulate the Shelbyville community on its attraction of Nifco Inc.,” Governor Fletcher said. “This facility will provide new opportunities for the region’s work force and benefit the local economy. I look forward to continuing our relationship with Nifco and am pleased we were able to fulfill their expectations to find a good home in Kentucky.”
Nifco will construct a 43,000 square foot facility on 13.5 acres located in Hi Point Industrial Park. The company will also purchase new equipment and building fixtures as part of the project, which will create 151 jobs within two years of project completion.
“It is our intent to install state-of-the-art manufacturing equipment at our new plant in Shelbyville in order to manufacture products capable of being cost competitive in the U.S. market,” Kenichi Sakurai, managing director of Nifco, said. “The accessibility of Shelbyville, which is the best located for serving our important customers, and the enthusiasm shown by Judge (Rob) Rothenburger, Mayor (Thomas) Hardesty and other local officials have reinforced our decision to locate in Shelbyville. We look forward to becoming the new corporate citizen of Shelbyville and the commonwealth of Kentucky.”
Nifco is the principal manufacturer of industrial plastic parts and components in Japan with a dominant 70 percent share of the market. Nifco produces more than 20,000 types of fasteners, plastic parts components, electrical parts and electronic parts which it largely supplies to the automobile industry, home electric appliance and white goods manufacturers.
Founded in 1967, Nifco has five production facilities in Japan and 22 facilities in 14 countries around the world.
“The City of Shelbyville is very excited about Nifco’s decision to locate in this community,” Hardesty, the mayor, said. “The creation of 151 jobs will not only be a great financial asset to the community, but will provide excellent opportunities for our citizens.”
“The Shelby County Industrial and Development Foundation Board of Directors, officers and staff are excited to welcome Nifco to our community,” Bobby G. Hudson, president and CEO of the Shelby County Industrial and Development Foundation, said. “We have enjoyed working with them to bring their company to Shelbyville. We look forward to working with them for years to come.”
“Shelby County is very fortunate to have been selected as the site for Nifco’s new facility and we welcome the opportunities that they will bring to our community,” said Rothenberger, the Shelby County judge-executive.
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Nifco for tax benefits up to $3 million under the Kentucky Industrial Development Act (KIDA), an incentive program designed to attract and expand manufacturing operations in the state.
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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 2006 totaled more than $3.4 billion with the creation of over 18,500 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.