Cabinet for Economic Development
GOVERNOR FLETCHER ANNOUNCES NIFCO INC. TO LOCATE NEW FACILITY IN SHELBYVILLE

Press Release Date:  Friday, March 23, 2007  
Contact Information:  Janet Williamson, (502) 564-7670  


                                                               

FRANKFORT, KYGovernor Ernie Fletcher and Cabinet for Economic Development Commissioner J.R. Wilhite were in Shelby County today to participate in the announcement of Shelbyville’s newest corporate citizen.  Nifco Inc. is a Japan-based manufacturer of plastic injection molded fasteners for the automotive industry.  Nifco plans to open an operation that will bring 151 new jobs to the commonwealth and an investment of $14,901,000.

 

“I congratulate the Shelbyville community on its attraction of Nifco Inc.”, Governor Fletcher said.   “This facility will provide new opportunities for the region’s workforce and benefit the local economy.  I look forward to continuing our relationship with Nifco and am pleased we were able to fulfill their expectations to find a good home in Kentucky.”

 

Nifco will construct a 43,000 square foot facility on approximately 13.5 acres located in Hi Point Industrial Park.  The company will also purchase new equipment and building fixtures as part of the project, which will create 151 jobs within two years of project completion.

 

Mr. Kenichi Sakurai, Managing Director of Nifco Inc. stated, ”It is our intent to install state-of-the-art manufacturing equipment at our new plant in Shelbyville in order to manufacture products capable of being cost competitive in the U.S. market.  The accessibility of Shelbyville, which is best located for serving our important customers, and the enthusiasm shown by Judge Rothenburger, Mayor Hardesty and other local officials have reinforced our decision to locate in Shelbyville.  We look forward to becoming the new corporate citizen of Shelbyville and the Commonwealth of Kentucky.”

 

Nifco Inc. is the principal manufacturer of industrial plastic parts and components in Japan with a dominant 70% share of the market.  Nifco produces more than 20,000 types of fasteners, plastic parts components, electrical and electronic parts which it largely supplies to the automobile industry, home electric appliance and white goods manufacturers.

 

The company was founded in 1967.  It has five production facilities in Japan and twenty-two facilities in fourteen countries around the world.  In addition to the United States, other locations include China, Hong Kong, Malaysia, Mexico, Poland, Singapore, South Korea, Spain, Taiwan, Thailand, United Kingdom and Vietnam.

 

Mayor Thomas Hardesty stated, “The City of Shelbyville is very excited about  Nifco’s decision to locate in this community.  The creation of 151 jobs will not only be a great financial asset to the community, but will provide excellent opportunities for our citizens.”  Bobby G. Hudson, President/CEO of the Shelby County Industrial & Development Foundation agreed.  He said, “The Shelby County Industrial & Development Foundation Board of Directors, officers and staff are excited to welcome Nifco to our community.  We have enjoyed working with them to bring their company to Shelbyville.  We look forward to working with them for years to come.”

 

Shelby County Judge/Executive Rob Rothenburger stated, “Shelby County is very fortunate to have been selected as the site for Nifco’s new facility and we welcome the opportunities that they will bring to our community.”

 

The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Nifco, Inc. for tax benefits up to $3,000,000 under the Kentucky Industrial Development Act (KIDA), an incentive program designed to attract and expand manufacturing operations in the state.

 

A community profile for Shelby County can be found at

http://www.thinkkentucky.com/edis/cmnty/cw/cw051/location.htm.

 

                               

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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.