New Jobs, $6 Million Expansion for Independence Company
Independence-based Balluff Inc. is expanding its headquarters to the tune of $6 million and adding twenty-four new jobs in the process.
Kentucky Governor Steve Beshear joined company and local officials for the groundbreaking Thursday morning.
“Balluff has found a successful home in Northern Kentucky, with steady growth here over the past thirty years,” Beshear said. “We’re proud to have the company’s U.S. headquarters in Kentucky and especially happy to see the company continue to expand, adding twenty-four new jobs and investing $6 million in the Commonwealth.”
One of the world’s leading automation suppliers, Balluff specializes in products for industrial sensing, networking, and identification devices.
Balluff is the U.S. subsidiary of Balluff GmbH, based in Neuhausen, Germany. The company’s U.S. headquarters currently employs more than 150 people, and has been located in Independence since 1983, with expansions in 1994 and 2001. The facility is the final assembly, distribution and training site for Balluff in the United States.
Balluff’s new 48,000-square-foot building is expected to be completed in March 2014, and will be a state-of-the art customer support, training, and sales and marketing center. The facility will include “green concepts” and worker-friendly features, such as 100 percent employee access to daylight from workspaces.
“Balluff is working hard to help keep jobs in America by offering our customers technology and expertise to increase their productivity, improve their quality and reduce their total cost of ownership, helping to make U.S. manufacturing the most productive in the world!” said Kent Howard, president of Balluff, Inc.
To encourage the investment and job growth in Northern Kentucky, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives of up to $300,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also approved Balluff for tax benefits up to $150,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
“Balluff’s groundbreaking here is not only testimony to our central geographic location, but also a testimony to the high quality workforce we offer,” said State Sen. Damon Thayer, of Georgetown, whose district includes Independence. “I welcome Balluff with open arms and high hopes.”
“This is an exciting announcement and I join Gov. Beshear in welcoming Balluff Inc. in locating its U.S. Headquarters in our community,” said State Rep. Adam Koenig, of Erlanger. “Today’s announcement is a continuing example of Northern Kentucky’s competitiveness in a global economy. We are proud to continue to provide a highly skilled workforce and business friendly tax climate. Through a collaborative effort between the public and private sector, we are maintaining our commitment to restoring the strength of our nation’s economy by growing new jobs in the private sector.”
“Balluff's continued expansion in Independence is an exciting sign of growth for the company, city and Northern Kentucky,” said Independence Mayor Chris Moriconi, who will soon step down from that post to become city administrator in Ft. Mitchell. “We are thrilled to serve as this company’s partner in growth and look forward to surrounding it with a supportive business environment of success.”
“This is a company that placed roots in the community in 1983 and has expanded three times including today’s announcement,” said Boone County Judge-Executive Gary Moore who is chairman of Northern Kentucky Tri-County Economic Development Corporation Gary Moore. “We must continue to provide workforce and business solutions to Balluff as it adds such a solid base to our community. We are very appreciative of the investment in Independence and Northern Kentucky.”
Source: news release
Photo: Gov. Beshear thanks Balluff CEO Kent Howard/via Balluff, Inc.