Tristate Valves & Controls Opens $3.1 Million Facility In Boone County, Kentucky
Area Development Online News Desk (12/13/2013)
A valve and automation hardware manufacturer, Tristate Valves & Controls Inc. opened its $3.1 million facility in Boone County, Kentucky, with plans to create 45 jobs.
The 40,000-square-foot facility, which contains a high-tech manufacturing facility and office space, is located in Hebron’s Riverview Business Park off I-275. It will be home to more than 60 current TRIVACO employees and will create about 45 new engineering, customer service and sales jobs in the next few years. The building was constructed with recycled, local materials to make the project environmentally friendly. The location will also allow TRIVACO to expand in the future.
“TRIVACO has experienced significant growth over the last decade,” said Benjie Pieper, president of TRIVACO. “The move to Kentucky will enable us to continue this growth pattern and puts us in a position to best serve our existing customer base while also giving us the flexibility to explore other markets and opportunities. This reinvestment will help further establish TRIVACO as a leader in the marketplace”
“I am delighted to celebrate the opening of TRIVACO, a leading provider of engineered products and solutions for the region,” said Gov. Steve Beshear. “This investment not only adds 45 high-paying jobs for the citizens of Boone County and surrounding region, but it also demonstrates TRIVACO’s confidence in Kentucky’s quality workforce and business climate. I extend my congratulations to all who made this vision a reality.”
To encourage the investment and job creation in Boone County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $350,000 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.
“Northern Kentucky Tri-ED is pleased to welcome TRIVACO to northern Kentucky and we look forward to their success,” said Steve Pendery, Campbell County Judge-Executive and chairman of Northern Kentucky Tri-ED. “Northern Kentucky is proud to have such a robust manufacturing presence, and TRIVACO certainly continues this trend by investing its headquarters and manufacturing operation in Boone County.”