Hollobus Technologies Plans Murray, Kentucky, Operations Center
The company will locate its head office, primary manufacturing operation and an R&D facility at the former Briggs & Stratton location at 110 Main Street. The investment will build out the new Hollobus product line, which serves as an alternative to electrical cabling for major industrial projects and is designed to survive extreme water events.
“We were initially attracted to Murray, Kentucky, because we were looking for a building in the mid-Southeast United States,” said Mihaela Adams, manager of global business development for Hollobus. “After coming here and working with local officials, we are excited to be part of the Murray community and look forward to having great success here for many years.”
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in April preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.2 million in tax incentives based on the company’s investment of $2.25 million and annual job creation targets. By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Hollobus can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
“It is great to see continued economic growth in Western Kentucky as this region recovers and builds back following last year’s devastating tornado,” said Governor Andy Beshear. “Hollobus is a company that will be a great fit for Murray and Calloway County, and I hope to see it grow for decades to come. Thank you to the leaders at Hollobus for their part in helping build a brighter future in the Commonwealth.”
Since 2005, STS has produced electrical power distribution connectors for a range of projects in the U.S., including the City of Boston water treatment facility, high rises in New York City, offshore oil rigs in Texas and various military installations. STS also provided electrical systems for the Richmond-Airport-Vancouver (RAV) Rapid Transit line for the 2010 Winter Olympics and Canadian Navy projects, as well as wind and waterpower inversion systems and mining applications in Central and South America.
“TVA and Murray Electric Systems congratulate Hollobus Technologies Inc. on its decision to establish operations in Calloway County,” said John Bradley, TVA senior vice president of economic development. “Supporting companies, like Hollobus, creating new jobs and investment in the region is fundamental to TVA’s mission of service. We are proud to partner with the Kentucky Cabinet for Economic Development and Murray-Calloway County Economic Development Corp. to help further that mission and celebrate this announcement together.”
Hollobus leaders have partnered with Murray State University to establish a workforce pipeline and have expressed intent to focus hiring efforts on recently discharged military personnel from nearby Fort Campbell.
“We, along with the Kentucky Cabinet for Economic Development and TVA, have been working on this project for a number of months. We are proud to see the owners investing in the former Briggs facility to bring it new life for our community,” added Murray-Calloway EDC Chair David Graham. “The skills that will be needed by Hollobus are very familiar to our workforce and include precision metal work, welding and assembly as well as other skills to be learned. We think the future is bright for Hollobus and its owners and pledge to continue doing all we can to assist in their, and our, ultimate success.”
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