Cabinet for Economic Development
Governor Beshear Announces Economic Development Grant to Help Create 52 New Jobs in Lebanon
Angell-Demmel to invest more than $4.8 million now, will consider additional expansion in the future
LEBANON, Ky. (March 31, 2010) – Gov. Steve Beshear and Department for Local Government Commissioner Tony Wilder today joined community and company officials in Marion County to announce a $1 million Community Development Block Grant (CDBG) to the city of Lebanon. The grant will benefit Angell-Demmel North America Corp., a Tier 1 manufacturer of decorative trim products for the automotive industry, bringing more than 50 new jobs and an investment in excess of $4.8 million to the Commonwealth.
Gov. Beshear also announced the preliminary approval of tax incentives for Angell-Demmel up to $2.5 million through the Kentucky Business Investment Program. The incentive, which was approved by the Kentucky Economic Development Finance Authority, is intended to encourage the company to make additional investments in the Lebanon plant that could lead to another 110 jobs at the facility.
“The expansion of Angell-Demmel not only creates jobs and investment for the Marion County community today, but it opens the door for even greater economic expansion in the future,” said Gov. Beshear. “This is another example of how Kentucky is positioning itself for continued success by engaging business expansion opportunities of all kinds.”
The company has recently been awarded a 7-year contract with Mercedes-Benz, U.S. International Inc. to produce decorative aluminum trim for the doors and instrument panels for Mercedes M-Class. The CDBG grant will allow for the purchase of an EPIC curtain coater and a wet buff machine necessary to begin production of these new trim parts later this spring.
The city will grant the funds to the Marion County Industrial Foundation (MCIF), a nonprofit economic development corporation. MCIF will purchase the equipment and lease to the company through a capitalized lease arrangement.
The project will create 52 new full-time jobs for the area, at least 27 of which will benefit low-to-moderate income persons. The Lebanon facility is home to Angell’s metal products division and provides more than $8 million annually in gross wages for the local economy.
“I would like to commend Kentucky’s Economic Development Cabinet for their sustained commitment to creating and retaining jobs,” said Sen. Jimmy Higdon, of Lebanon. “They have continued to work closely with our local officials to retain existing jobs and attract new businesses to our community. The Angell-Demmel expansion is a testament to that cooperation.”
“On behalf of the people in Marion County who recently chose me to represent them in Frankfort, I want Governor Beshear to know that his efforts and those of his administration are greatly appreciated,” said Rep. Terry Mills, of Lebanon. “Angell-Demmel is a vital part of this community and the 52 new jobs will certainly improve the economic outlook for this area. We are thankful to have leadership such as this.”
“Angell-Demmel’s investment in the new technology necessary to compete in the global automotive business is made possible through the direct support of the Beshear administration and the Lebanon/Marion County community,” said John Turner, board member of Angell-Demmel. “The new capacity will enable the company to participate in new markets and create new, expanded employment opportunities for the area.”
Angell-Demmel first located in Lebanon in 1965, and has grown to become one of the leading manufacturers of decorative trim worldwide for the automotive, home appliance and consumer electronics industries. The company currently employs 102 persons. Products manufactured at the Lebanon facility include aluminum wheel covers, automotive interior trim products and aluminum appliance panels. The new contract with Mercedes-Benz represents a breakthrough into a broader market for Angell-Demmel with other contracts to follow in future years.
“Marion County appreciates the efforts of Gov. Beshear, the Kentucky Economic Development Finance Authority and the Department of Local Government for providing incentives to Angell-Demmel to expand and diversify their operations in Lebanon, Kentucky,” said Marion County Judge-Executive John G. Mattingly.
“The city of Lebanon is proud of the Angell-Demmel company and its longstanding heritage in our community,” said Lebanon Mayor Gary D. Crenshaw. “We appreciate the Commonwealth of Kentucky’s commitment and investment in their future growth and development. We also wish to acknowledge Angell-Demmel’s employees for their dedication and reputation that helps make Lebanon ‘The Center of Manufacturing in Central Kentucky.’”
A detailed community profile for Lebanon (Marion County) can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=042. Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com.