Germany-Based BILSTEIN GROUP Expands Bowling Green, Kentucky, Plant
BILSTEIN will construct a new 8,500-square-foot facility in the Kentucky Transpark in addition to its existing 105,000-square-foot operation, to better serve the North American market. The expansion will feature the installation of new equipment, including batch annealing furnaces, and upgrades to existing equipment to increase production capacity of high-performance, cold-rolled steel strips. According to company officials, the expansion is expected to be fully operational by the second half of 2022.
“Today, we celebrate a major milestone in BILSTEIN’s success story in the U.S. We are very proud to be part of this community and, most fundamentally, of our team delivering and outperforming our company goals and therefore allowing us to add this physical expansion to our plant,” said Brent Wilson, president and CEO of BILSTEIN COLD ROLLED STEEL LP. “This will be the foundation to continue on our current growth path and add more highly qualified jobs to the region. Our plant in Bowling Green, Kentucky, is BILSTEIN’s first footprint on the North American continent. Looking at the increasing demand in our superior quality products, serving high-precision applications in key industry segments including electrical vehicle systems, we are very positive that our growth story does not stop here.”
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in April approved BILSTEIN for up to $200,000 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.
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, BILSTEIN can receive resources from the Kentucky Skills Network.
“BILSTEIN has been a great corporate partner to Warren County and the commonwealth since it opened four years ago, and I am thrilled to see the company finding success in our state,” Governor Steve Beshear said. “This investment not only will help the company meet its job growth targets, but also creates a foundation for possible further expansion in the coming years. I look forward to seeing BILSTEIN grow with Kentucky as we strive to build an economy that works for all of our residents.”
Founded in 1911 in Hagen, Germany, BILSTEIN produces highly specialized steel products for the automotive sector and other industries. The company has produced cold-rolled steel for the North American market for more than 25 years and processes 62,000 different products supplied to 170 countries. BILSTEIN operates 21 international subsidiaries, employing more than 2,100 people worldwide.
“It’s very exciting to continue to see companies thrive all across our community,” said Ron Bunch, president and CEO of the Bowling Green Area Chamber of Commerce. “Warren County is a great place to do business and BILSTEIN COLD ROLLED STEEL is one more shining example of our strong business community.”
The “Great Resignation” Is Impacting Corporate Relocations
Workforce Q4 2021
Innovation Corridors Have Economic Assets Driving Business Growth
The 2021 Top States for Doing Business Reflect Their Locational Advantages
Workforce Development Programs Are in Overdrive
Workforce Q4 2021
35th Annual Corporate Survey: Effects of Global Pandemic Reflected in Executives’ Site and Facility Plans
17th Annual Consultants Survey: Consultants Are Optimistic About the Year Ahead