Siemens Opens $2 Million Rail Automation Facility Expansion In Marion, Kentucky
Area Development Online News Desk (10/24/2013)
Siemens opened its $2 million rail automation facility expansion in Marion, Kentucky. The Germany-owned integrated technology company plans to create 50 new jobs as a result of its expanded facility, which now totals 95,000 square feet.
The company’s Marion facility, which employs 200 workers, engineers control systems for railways and transit authorities. The expansion makes way for production and installation of technology for wayside buildings.
“Companies always have choices on where to locate facilities. The economic development team and the Governor’s support for the local community, coupled with our excellent employees, makes our choice simple,” said Kevin Riddett, CEO of Siemens Freight and Products Segment, Rail Automation. “It’s important to also recognize our great customers and the entire Siemens global team that provides us the opportunity to grow. Today’s ribbon-cutting ceremony is an outward symbol of our commitment to the Marion facility and Siemens partnership with the Commonwealth of Kentucky, Crittenden County and the city of Marion.”
“I am delighted to be in Marion to celebrate the expansion of Siemens, a leading provider of technology solutions for the global marketplace,” said Gov. Steve Beshear. “This investment not only adds 50 new jobs for the citizens of Crittenden County and surrounding region, but demonstrates Siemens’ continued confidence in Kentucky’s quality workforce and business climate. I extend my congratulations to all that made today possible.”
To encourage the investment and job growth in Crittenden County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $500,000 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.
Marion Mayor Mickey Alexander said. “I would like to thank the Governor and the Cabinet for Economic Development for their assistance with this expansion. Siemens has been a great partner with the city, and we could not be more pleased with their success. They recognized the talent of our local workforce and the consistent growth of the plant has proven to be beneficial for everyone involved. With everyone working together, I believe the future looks even brighter.”