Hendrickson Truck Commercial Vehicle Systems Expands Its Lebanon, Kentucky, Manufacturing Campus
A leading global manufacturer and supplier of medium and heavy-duty suspension systems, axle systems, springs, and bumper and trim components that currently employs 126 associates, Hendrickson plans to build out an adjacent shell building it purchased in 2007. This is the company’s third expansion in the past decade. When the project is completed in early 2015, Hendrickson will operate nearly 229,000 square feet in Lebanon.
“Hendrickson is very excited about the approval to move forward with the expansion project,” said Richard Mudd, Director of Operations for Hendrickson’s Truck Division. “There has always been a great working relationship with the city of Lebanon and the local economic development office that makes our decision to expand an easy choice. Kentucky has been a great state that continues to support our growth and long-term strategies.”
To encourage the investment and job growth in Marion County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.5 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.
This is a welcomed investment in central Kentucky,” said Governor Steve Beshear. “The fact that Hendrickson chose to expand here is a further testament to our skilled workforce and thriving auto industry. Hendrickson has been a tremendous corporate partner to the Commonwealth, and we want to celebrate the company’s success and the new jobs being created.”
Hendrickson Truck Commercial Vehicle Systems is a subsidiary of Hendrickson USA LLC. This is Hendrickson USA’s second announcement in Kentucky this year. The company recently opened its new 100,000-square-foot trailer division in Elizabethtown in March. Hendrickson also has trailer suspension operations in Somerset. The three facilities combined employ nearly 450 Kentuckians.
“The city of Lebanon appreciates the support of Gov. Beshear, the Kentucky Cabinet for Economic Development and KEDFA for encouraging the growth of our existing industries,” said Lebanon Mayor Gary Crenshaw. “The Hendrickson Truck Commercial Vehicle Systems expansion is a very positive step forward for our community and for the Commonwealth. We applaud Hendrickson for making a commitment to expand in Lebanon.”
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