Germany Auto Supplier iwis Opens Murray, Kentucky, Manufacturing Center
The 119,000-square-foot facility, located off U.S. Highway 641 North in Murray, will manufacture timing drive systems for engines. iwis is currently working on projects with several motor vehicle manufacturers, and the start of production is planned for this summer.
“Murray was chosen as the new iwis location in the U.S. because we found there some very interesting and good advantages,” said Johannes Winklhofer, iwis Managing Partner. “Kentucky has a very professional infrastructure, qualified people for a high-tech production company and highly motivated local authorities. Governor Beshear visiting iwis in Germany also played a big role in our decision.”
To encourage the investment and job creation in Murray, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $2.5 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.
“We are very excited to celebrate iwis and the opening of its first U.S. facility,” said Governor Steve Beshear. “The fact that world-class companies continue to choose Kentucky as the destination for their global operations speaks volumes for the pro-business climate and workforce quality we have to offer. There’s no doubt that iwis will do big things in Kentucky for years to come.”
The company is Kentucky’s most recent addition to an already dynamic and vibrant automotive industry, comprised of more than 460 motor-vehicle related establishments. Those facilities, which include four major auto assembly plants, employ 85,000 people across the state.
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