19 October 2012

David Brown opens new service, repair and assembly facility in Inez, Kentucky

- Plans to triple its workforce and invest $4.7 million in the Commonwealth 

Inez, Ky. – 19 October 2012 – Governor Steve Beshear today joined company and local officials in Inez to celebrate the grand opening of David Brown’s Kentucky service, repair and assembly facility. David Brown, a global leader in industrial gearing solutions and services, has already created eight local jobs and plans to triple its workforce within the next five years through a continued investment up to $4.7 million. 

“We’re pleased to welcome David Brown to Inez, and we look forward to the company’s job growth in the near future as a result of this partnership,” said Gov. Beshear. “David Brown is a company with a 150-year heritage, and that is a testament to its longevity and proven record of success.” 

David Brown was founded in 1860 in England and has grown to employ more than 1,500 people worldwide, with six manufacturing facilities on five continents. The company’s Kentucky facility is in the Honey Branch Industrial Park in Inez and will assemble large gear boxes, as well as refurbish and rebuild manufactured components. It will provide on-site technical services for the mining and oil/gas industries, as well as conventional power generation, steel, cement and chemical processing industries and the renewable energy sector throughout North America. 

“At David Brown, we strive to be as close to our customers as possible,” said Marcelo Zapatero, David Brown’s regional sales director for the Americas. “Our main aim is simply to increase our customer’s up time and reliability by being right on the ground in the region. This way we can respond exceptionally quickly with swap-outs, spares, improvements and advice. We are delighted to be here in Kentucky and are looking forward to serving our customers with a local team of specialists. We have had a lot of support from the Kentucky and Martin County Economic Development teams to make this happen, and are looking forward to continuing our collaboration with them.” 

To encourage the investment and job creation in Inez, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $2 million 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. 

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 2010 totaled more than $2 billion with the creation of nearly 11,900 new jobs. 

Source: Kentucky Cabinet for Economic Development