Cabinet for Economic Development
Governor Beshear Announces Expansion of INFAC Corporation in Campbellsville
South Korean automotive supplier to add manufacturing to its distribution and sales center, creating 20 new jobs
FRANKFORT, Ky. (October 29, 2009) – Gov. Steve Beshear and Economic Development Cabinet Secretary Larry Hayes today announced INFAC Corporation, a leading producer and worldwide supplier of mechanical cables and electronic components for the automotive industry, will add manufacturing capabilities to its distribution and sales center in Taylor County. The expansion will entail a $530,000 investment and will create an additional 20 jobs in the community.
“We are delighted INFAC Corporation has made the decision to further expand its Taylor County operation, creating new jobs and additional investment in the Commonwealth,” said Gov. Beshear. “The expansion of our existing industries is vital to the growth of our economy, so we are pleased to have played a role in helping another Kentucky business expand.”
The South Korean-owned company expects to begin manufacturing park brake cables and transmission control cables at its 52,500 square-foot facility, located in the Campbellsville Industrial Park, in the first quarter of 2010. INFAC Corporation, established in 1969 in Ansan, Korea, also operates seven manufacturing plants in Korea, China, India, Turkey and has affiliates in Japan and Europe.
"We are proud to expand our facility in Campbellsville as demand for our products grow with the North American market,” said Brian Bland, general manager for INFAC Corporation. “We appreciate the help from the Kentucky Cabinet for Economic Development and Team Taylor County. As a native of Campbellsville, Kentucky, has proven to be an excellent choice for both our initial location and expansion. Our hope is there will be additional expansions to follow.”
The Kentucky Economic Development Finance Authority preliminarily approved INFAC Corporation for up to $400,000 under Kentucky’s new incentive program, the Kentucky Business Investment Program. The incentives can be earned over a 15-year period through corporate income tax credits and wage assessments. The maximum annual amount to be earned by INFAC Corporation is approximately $26,666.
“I am very excited about INFAC Corporation's commitment to bring additional jobs to Taylor County,” said Ron McMahan, executive director of Team Taylor County. “We look forward to working with them as they continue to grow in our community.”
A community profile of Taylor County can be found at the following link: http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=060.