Safran Landing Systems Expands Boone County, Kentucky, Production Operations
09/07/2023
The investment will allow the company to meet the demand for carbon composite brakes, which continues to increase due to heavy airline traffic.
“Safran Landing Systems is a key contributor to the Kentucky aerospace manufacturing industry, as reflected by our steady growth over the years,” said Philippe Garnier, CEO and general manager of Safran Landing Systems Kentucky. “This new investment will allow us to bolster our manufacturing capabilities with the addition of new equipment and strengthen our workforce to meet increased production volumes as we support our U.S. military and commercial customers. We are proud of our 24-year history of creating jobs and bringing specialized manufacturing skills to the local economy, which has been made possible through the support of the state and local authorities.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.495 million in tax incentives based on the company’s investment of over $65 million and annual targets of: Creation and maintenance of 92 Kentucky-resident, full-time jobs across 10 years; and paying an average hourly wage of $44.34 including benefits across those jobs.
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.
“The economic momentum Kentucky is seeing is a direct result of tremendous growth among our largest and most vital industries, and manufacturing and aerospace are at the center of that growth,” noted Governor Andy Beshear. “We continue to see quality companies like Safran Landing Systems expanding to meet growing customer demand, and that is a recipe for long-term success for our economy. I want to thank Safran Landing System’s leadership for their belief in the commonwealth and look forward to their continued growth in our state.”
In addition, Safran Landing Systems can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives. “Safran Landing Systems is an important player in our region’s high-growth aerospace manufacturing sector,” added BE NKY Growth Partnership CEO Lee Crume. “We appreciate the company’s leadership continuing to invest in the Cincinnati region and its partnerships with our education institutions to train high school students and young adults through its programs with Ignite Institute and Gateway Community & Technical College.”
Safran Landing Systems Kentucky produces and refurbishes advanced carbon composite brake discs and produces aluminum alloy wheels and brakes for large commercial and military aircraft.
Project Announcements
Play Mart Expands Pulaski County, Kentucky, Operations
09/30/2023
Blue Whale Materials Establishes Bartlesville, Oklahoma, Battery Processing Operations
09/30/2023
Pivot Bio Establishes Hazelwood, Missouri, Operations
09/30/2023
Germany-Based mtex Antenna Technology USA Plans Albuquerque, New Mexico, Operations
09/30/2023
Amphenol Industrial Operations Plans Mesa, Arizona, Operations
09/30/2023
Provalus Plans Columbus County, North Carolina, Operations
09/30/2023
Most Read
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
2022 Top States for Doing Business Provide an Environment for Business Growth
Q3 2022
-
Why the Southeast Is Winning EV Projects, With More on the Way
Q3 2023
-
EV Impacts to Watch in 2023 and 2024
2023 Auto/Aero Site Guide
-
U.S. Attracting FDI From European Manufacturers
Q3 2023
-
2023 Top States Workforce Development Programs
Q3 2023
-
Power-Intensive Site Selection
Q3 2023