Horizon Steel Plans $15 Million Bowling Green, Kentucky, Manufacturing Plant
Area Development Online News Desk (11/20/2013)
Horizon Steel, a producer of flat rolled steel products, plans to open a new $15 million facility in Bowling Green, Kentucky. The plant, which is expected to create 30 jobs, will become the exclusive processor of all steel products for Bilstein Group, a German company, which also plans to locate in Warren County.
“Horizon Steel and Bilstein Group’s collaboration in south central Kentucky is further proof that the Commonwealth is a great place to do business on an international scale,” said Gov. Steve Beshear. “This partnership, which will result in the creation of 30 additional jobs, will make Kentucky a key player in the steel-processing industry, and I’m looking forward to the results.”
U.S. based Horizon Steel carries a full line of carbon based products including hot rolled, cold rolled, hot dipped, electro galvanized, galvannealed and aluminized in all grades. The company is also considered an expert in the advanced high strength steel market. Horizon will operate out of the Bilstein plant in the Kentucky Transpark in Bowling Green. Horizon will occupy 98,000 square feet of the facility, which will begin construction in the spring of 2015. Bilstein plans a $120 million investment in the Commonwealth, creating 90 jobs.
“We are very excited to announce our expansion to Bowling Green, which we feel is a perfect complement to our other locations,” said John Chirikas, CEO of Horizon Steel. “As our customer base continues to expand, we felt it was absolutely critical to position ourselves in a locale that will allow us to meet their demands. Bowling Green fits that description perfectly.”
“With a perfect location and strong workforce, Horizon Steel is going to thrive here in Bowling Green,” said Lt. Gov. Jerry Abramson. “We’re glad the Commonwealth could play a role in making this sizable investment possible and we’re proud to support the partnership between Horizon and Bilstein, and we wish them success.”
As an incentive to encourage the investment and job growth in Warren County, the Kentucky Economic Development Finance Authority preliminarily approved Horizon Steel for tax incentives up to $1.5 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.
Warren County has also been certified by the Kentucky Workforce Investment Board as a Work Ready Certified Community. The certification is an assurance to business and industry that the community is committed to providing the highly skilled workforce required in today’s competitive global economy.