Cabinet for Economic Development
GOVERNOR FLETCHER ANNOUNCES LORD CORPORATION TO EXPAND OPERATIONS IN BOWLING GREEN
$3 million investment will create 80 new jobs
FRANKFORT, KY – Governor Ernie Fletcher and Economic Development Cabinet Secretary John Hindman today announced that LORD Corp., a global developer and manufacturer of products and technologies for the vehicle and equipment industry, will expand its manufacturing facility in Bowling Green. The $3 million investment will result in up to 80 new full-time jobs.
“I am delighted LORD Corporation will expand its Bowling Green operation, creating dozens of new jobs for the citizens of south central Kentucky,” said Governor Fletcher. “The success and expansion of Kentucky’s existing businesses are vital to the state’s overall economy. The LORD Corporation is a great example of that success.”
The Bowling Green facility, which manufactures shock, vibration and noise control products for the vehicle and equipment industry, will handle the increased production as part of the company’s five-year strategic plan.
“LORD Corporation is pleased to partner with the greater Bowling Green area and the state of Kentucky to support our business growth,” said Rick McNeel, president and CEO of LORD. “The tax benefits offered by the state of Kentucky, together with LORD Corporation’s commitment to continuous improvement, will allow us to maintain a profitable business in a competitive world environment.”
LORD broke ground on its Bowling Green facility in 1974 and began producing shock and vibration control components for truck, automotive, off-highway, recreational and industrial equipment markets. The plant has grown steadily to more than 160 employees. The company has continuously invested capital in modern equipment and facilities to maintain a safe work environment and competitive cost structure in Kentucky.
"We believe south central Kentucky is not only a good place to locate a business, but it's also a great place to grow a business," said Bowling Green Mayor Elaine Walker. "By creating additional employment opportunities at the Bowling Green plant, LORD Corporation further demonstrates its long standing commitment to our region."
“LORD Corporation, bringing more jobs to south central Kentucky, bolsters the economy of the region,” said Bowling Green Judge-Executive Mike Buchanon. "By expanding its local operation, LORD will bring an additional $25 million of business to Warren County. This is a great victory for our community economic development efforts.”
LORD is a privately held company with headquarters in Cary, N.C., and sales in excess of $630 million. In addition to products made in Bowling Green, the company formulates, produces and sells general purpose and specialty adhesives and coatings, and develops products and systems utilizing magnetically responsive technologies. The company has plants in nine countries, offices in more than 15 major business centers and 2,400 employees worldwide. Visit www.lord.com for information.
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved LORD for tax benefits up to $1.2 million under the Kentucky Industrial Development Act (KIDA), an incentive program designed to attract and expand manufacturing employment in the state.
A community profile for Warren County can be found at the following link: http://www.thinkkentucky.com/EDIS/cmnty/index.aspx?cw=067.