Germany-based Wieland North America Plans Shelby County, Kentucky, Recycling Complex
The company plans to build its new operation on 79 acres off Isaac Shelby Drive. The plant will melt copper and copper-alloy for recycling for use in manufacturing semi-finished copper and copper-alloy products for customers throughout North America. Work on the project is expected to begin in October and be complete by the end of 2022.
“Wieland is excited to announce our latest recycling endeavor in North America. Many thanks to the state of Kentucky and Shelby County for their tremendous display of support,” said Matt Bedingfield, president of Recycling for Wieland North America, and Senior Vice President of Global Metal Procurement. “We are thrilled to be a part of this community. As a 200-year-old company highly focused on long-term business sustainability, we intend to make positive impacts here for many years to come. The launch of our new recycling facility provides us with an opportunity to work alongside our current and future suppliers to find new ways to create value together.”
The announcement comes less than four months after Wieland made public its plans to locate its new North American headquarters in Louisville with an $8.8 million investment, a project creating 75 full-time jobs.
“Earlier this year, we welcomed Wieland North America’s new headquarters to the commonwealth, and today I am proud to welcome the company’s first manufacturing facility to our state,” Governor Andy Beshear said. “Wieland’s rapidly expanding presence in Kentucky exemplifies the type of economic growth and quality job creation we’re working every day to attract for our residents. Team Kentucky is building a better future for everyone in our state, and companies like Wieland will be a vital part of that effort.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $6 million in tax incentives based on the company’s current investment, and to accommodate future expansion up to a total $250 million and annual targets of: creation and maintenance of 225 Kentucky-resident, full-time jobs across 15 years and paying an average hourly wage of $30 including benefits across those jobs.
Additionally, KEDFA approved the company for up to $750,000 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.
“Shelby County is extremely fortunate to have attracted such a prominent, international, world-class company as Wieland North America,” added Ray Leathers, president and CEO of the Shelby County Industrial & Development Foundation. “The location will be synergistic to Wieland’s operations and logistics while providing a significant economic impact via strong technology-based employment. Wieland North America exemplifies the finest characteristics of industrial organizations locating in our community.”
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, Wieland can receive resources from the Kentucky Skills Network.
Supply Chain Bottlenecks Creating New “Logistical Hotspots”
2020 Top States for Doing Business Showcase Their Pro-Business Environments
Latest Trends in the Industrial Real Estate Sector Here to Stay
Auto Industry Is Betting on Sustainability
2021 Auto/Aero Site Guide
Challenges Facing the Auto Industry Post-Pandemic
2021 Auto/Aero Site Guide
35th Annual Corporate Survey: Effects of Global Pandemic Reflected in Executives’ Site and Facility Plans