Cabinet for Economic Development
LINK-BELT CONSTRUCTION EQUIPMENT COMPANY ANNOUNCES MAJOR EXPANSION AT ITS CRANE FACILITY IN LEXINGTON
Frankfort, KY – Governor Ernie Fletcher and Economic Development Cabinet Secretary John Hindman announced today the decision by Link-Belt Construction Equipment Company to expand its crane manufacturing and support capabilities at the worldwide headquarters in Lexington. The project will ultimately create 120 new jobs and represents a capital investment of over $24 million in the commonwealth.
“Link-Belt has a long and successful history in the Lexington community and is an excellent business partner for the state of Kentucky,” said Governor Fletcher. “This new expansion project will allow Link-Belt, a world-renowned company, to continue its growth and success right here in the bluegrass.”
Link-Belt is a worldwide leader in the design, manufacturing, and sales of telescopic and lattice boom cranes. Headquartered in Lexington since 1986, Link-Belt has made continuous improvements to the facility and has become the most modern crane manufacturing facility located in North America.
“This 90,000 square-foot expansion, added to our existing 592,000 square-foot facility, will further expand Link Belt’s commitment to serve customer needs worldwide with quality crane products and superior customer support,” said Chuck Martz, President and CEO, Link-Belt Construction Equipment Company.
“Link-Belt is a highly valued corporate citizen of Lexington and we congratulate the company on its success,” said Lexington Mayor Jim Newberry. “We welcome this increased investment and new manufacturing jobs to our community.
“Lexington is fortunate to have Link-Belt, a global leader in crane design and manufacturing in our region,” said Bob Quick, President & CEO, Commerce Lexington Inc. “Link-Belt is a first-class company that provides our workforce with a solid compensation package and cutting edge jobs. They have been a long-time investor in our community and have contributed to the improvement of our quality of life.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Link-Belt for tax benefits up to $2.4 million under the Kentucky Industrial Development Act (KIDA), an incentive program designed to attract and expand manufacturing operations in the state.
A community profile for Fayette County can be found at the following link: http://www.thinkkentucky.com/EDIS/cmnty/index.aspx?cw=053.
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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.