South Korean-based INFAC Completes $6.5 Million Expansion In Campbellsville, Kentucky
Area Development Online News Desk (09/27/2013)
South Korean-based automotive supplier, INFAC North America Inc., completed its $6.5 million manufacturing expansion project in Campbellsville, Kentucky.
INFAC specializes in automotive components, such as mechanical control cables, solenoids, antennas and horns for General Motors, Chrysler, Hyundai and KIA. In 2008, the company opened its U.S. operation in Campbellsville. The firm plans to add 20 additional members to its workforce of 60.
INFAC outgrew the leased 52,000-square-foot warehouse and distribution center and decided to build a new 100,000-square-foot assembly, manufacturing and warehouse facility. The new building will allow for increased manufacturing of brake and transmission control cables.
“Many thanks to our customers’ great success and the continuous support from the state of Kentucky, Taylor County and Campbellsville,” said INFAC Chairman and Chief Operating Officer Ohe Gil Choi. “One of the key factors for us to grow rapidly was our INFAC North America team members. We have received a ‘0 PPM Award’ from Hyundai Motors for achieving zero defects for one full year. While delivering more than 9 million parts, the INFAC North America team didn’t allow a single defect to escape our facility. INFAC North America also played a big role in winning ‘GM Supplier of the Year’ three years in a row. These achievements would have been impossible if we didn’t have dedicated, and diligent team members.”
“This is an exciting time for INFAC, Campbellsville and all of Kentucky, with the completion of a $6.5 million expansion that is responsible for the creation of 20 new jobs,” said Gov. Steve Beshear. “I extend my sincerest congratulations and wish INFAC continued success for many years to come.”
As an incentive to encourage the investment and job growth in Campbellsville, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $400,000 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 INFAC for tax benefits up to $300,000 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.