FRANKFORT, KY - Governor Ernie Fletcher and Economic Development Cabinet Secretary Marvin E. Strong, Jr. along with Cosma International, a subsidiary of Magna International, Inc., an internationally known auto parts company, today announced a second phase of their investment in a new facility in Bowling Green. Phase II of the project will have the potential to add an additional 800 jobs and an additional $80 million investment. In December, the company announced plans to purchase approximately 132 acres in the Kentucky TriModal Transpark in Bowling Green, where construction has begun on a 900,000 square foot facility.
Magna International Inc. is a leading global supplier of technology advanced automotive systems, components, and complete modules. As of September 2003, Magna employed approximately 72,000 people at 201 manufacturing divisions and 48 product development and engineering centers throughout North and South America, Mexico, Europe and Asia.
Magna's Cosma International Group, which employs approximately 14,000 people at 31 automobile metal forming divisions and 6 product development and engineering centers in the United States, Canada, Mexico, and Europe, will be establishing an automotive production facility in Bowling Green.
"Economic development in the Commonwealth is crucial to the well-being of all Kentuckians, and I am pleased that Cosma has decided to announce Phase II of their new facility in Bowling Green," stated Governor Fletcher. "This announcement will deliver much-needed jobs to the state and my administration will continue to promote economic growth and prosperity throughout Kentucky."
"The Bowling Green Board of Commissioners' number one priority is creating good jobs and diversifying economic opportunities for our citizens. The successful location of Cosma Structures to Bowling Green is a powerful advantage for the entire south central Kentucky region. The additional 800 jobs made available with this announcement will be a boost for every sector of our economy," stated Bowling Green Mayor Sandy Jones.
"We are extremely excited about Magna’s Phase II expansion and are pleased with their confidence in our community," added Mike Buchanon, Warren County Judge Executive. "Magna’s operation will be an excellent addition to the south central Kentucky economy and will provide excellent employment opportunities for the region."