Hyster-Yale Group Expands Berea, Kentucky, Operations
11/06/2019
Hyster-Yale recently started construction on a 160,000-square-foot expansion of its facility on Menelaus Road in Berea, which will increase the size of the operation and greatly increase its manufacturing capacity.
“To maintain a competitive position in an evolving global market, our organization must adapt and constantly evaluate new projects and investments,” said Rodney Wilson, Director of Manufacturing – Americas for Hyster-Yale Group. “We appreciate the state of Kentucky working with us on this project, and we look forward to the initial phase of our manufacturing expansion in Berea becoming a reality.”
“Hyster-Yale has been a strong economic partner in Madison County, and we are excited to see the company build upon its impressive track record of success,” Governor Matt Bevin said. “Their investment affirms Kentucky’s status as America’s engineering and manufacturing hub of excellence, and we look forward to Hyster-Yale’s continued growth here in the commonwealth.”
Jim Davis, Chair of the Economic Development Committee within Berea’s city council, said the company is a great fit for the community. “Hyster-Yale has been a good corporate citizen for several decades and has supplied good jobs to our citizens,” Davis said. “I think this expansion shows their intention to stay here for years to come. I am glad the city played a part in helping with this project.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) approved Hyster-Yale for up to $600,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.In addition, Hyster-Yale can receive resources from the Kentucky Skills Network.
Project Announcements
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
L3Harris Technologies Expands Orange County, Virginia, Operations
04/18/2024
Republic Airways Holdings Plans Tuskegee, Alabama, Training Operations
04/18/2024
South Africa-Based Radel Plans Winston-Salem, North Carolina, Operations
04/18/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024