Cabinet for Economic Development
Governor Beshear Announces Expansion of Worldcolor in Simpson County
Printing company to create 135 new jobs, invest more than $9.7 million
FRANKLIN, Ky. (April 6, 2010) – Gov. Steve Beshear today joined Worldcolor and community officials in Simpson County to announce the expansion of Worldcolor’s facility in Franklin, Ky. The Franklin expansion will create 135 new full-time jobs and entail a capital investment of more than $9.7 million in the Commonwealth.
“I’m delighted that Worldcolor has chosen to make such a significant investment in its Franklin plant, creating 135 new jobs,” said Gov. Beshear. “The vitality of our existing industries is essential to the recovery and growth of our state’s economy. Worldcolor’s expansion is a positive sign that we are moving in the right direction.”
Worldcolor is one of the world’s largest printers of magazines, catalogs, newspaper inserts, books, directories and direct mail products. The company, which currently employs approximately 425 people at its 460,000 square-foot Franklin facility, is planning to expand by another 105,000 square feet. Worldcolor will add binding machines and upgrade selected presses to position the site for a significant increase in customer print volume to service magazine and catalog customers.
“We are very pleased to make this significant investment in our Franklin facility to serve our magazine and catalog customers,” said Brian Freschi, president of Worldcolor North America. “The addition of the new binding equipment and enhanced presses will provide our customers with the latest technology and will be operated by proven and experienced print professionals.”
The Kentucky Economic Development Finance Authority preliminarily approved Worldcolor for tax incentives up to $1,950,000 through the Kentucky Business Investment program. The incentive can be earned over a 10-year period through corporate income tax credits and wage assessments.
“This is an important opportunity to solidify Worldcolor's presence in our community,” said Simpson County Judge Executive Jim Henderson. “It is exciting to see such a large investment in this company's future.”
“Worldcolor's expansion amid these challenging times reflects the soundness of their business approach, the dedication of their local Simpson County workforce and a vibrant economic development effort in Simpson County,” said Sen. David Givens, of Greensburg. “I particularly applaud current Worldcolor employees, who through dedication and effort, have proven the Simpson County facility worthy of expansion.”
“It is good to know companies like Worldcolor are willing to make further investments in strong communities like ours even during trying economic conditions,” said Representative Wilson Stone, of Scottsville. “I want to thank Worldcolor for investing in our community and I look forward to their future in Simpson County. I would also like to thank Governor Beshear and the Kentucky Economic Development Cabinet for working with Worldcolor and providing the incentives that will allow this expansion to take place.”
“The 135 jobs that Worldcolor is creating with this expansion will have a profound effect on the economy of our city,” said Franklin Mayor Herbert Williams. “Franklin is very fortunate to have this outstanding industry as a part of our community.”
A detailed community profile for Franklin (Simpson County) can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=079. Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com.
Worldcolor is an industry leader in providing high-value and comprehensive print, digital and related services to retailers, catalogers, publishers, branded-goods companies and other businesses worldwide. Founded in 1903, Worldcolor’s products include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics and mail list technologies. During its century-long existence, Worldcolor has had a rich tradition of leadership and excellence. Its team of approximately 18,000 employees is focused on helping clients meet their needs from facilities located in the U.S., Canada, Argentina, Brazil, Chile, Colombia, Mexico and Peru. More information about Worldcolor can be found on its Web site at www.worldcolor.com