Eagle Press America to open plant in FranklinKAM
Governor Matt Bevin announced today that Eagle Press, a manufacturer of industrial presses and stamping equipment, will bring a manufacturing component from Canada to Kentucky.
Eagle Press plans to invest more than $1 million in Franklin to build its new facility and purchase equipment. The project will create an estimated 10 new full-time jobs in Simpson County.
“Eagle Press is a welcome addition to Kentucky’s diverse manufacturing portfolio,” said Governor Bevin. “The nearly six decades of experience Eagle Press brings to Kentucky proves it can navigate change by accommodating the needs of numerous industries. We are grateful that they will be modelling this kind of innovative thinking for other companies, entrepreneurs and residents across the Commonwealth.”
Eagle Press plans to start operations in a temporary facility in April of this year and begin construction of its new 10,000-square-foot facility in Franklin by 2017. The location will function as the company’s new manufacturing and service facility.
Mark Polewski, Eagle Press chief financial officer, expressed the company’s eagerness to complete the project.
“We look forward to moving ahead with operations and providing our customers with a local presence,” Polewski said.
Parent company Eagle Press & Equipment Co. Ltd., founded in 1959 in Windsor, Ontario, operates a 50,000-square-foot facility housing its sales and service network, design, engineering production, installation, training and customer care departments.
Eagle Press builds industrial-scale presses and stamping equipment for multiple industries, including automotive, appliance, aerospace, agricultural, HVAC, construction, mold, tool and die and acoustical material forming. The company also provides full-service support, installation, emergency repair, training and parts replacement for its customers.
Sen. David Givens, of Greensburg, noted the impact this announcement could have on the local economy.
“This move by an international business into the Commonwealth will further energize our regional economy and provide highly technical jobs for hard-working Kentuckians. I welcome the news and thank Eagle Press for its investment in our state,” Givens said.
Rep. Wilson Stone, of Scottsville, said Eagle Press brings with it a long record of success.
“Eagle Press has an almost 60-year history of operations and will be an excellent addition to the industrial employment mix in Simpson County and southcentral Kentucky,” Stone said. “Eagle Press will only add to our impact as a major provider of automotive parts, and I am confident that it will grow over time and have an even greater impact on our local economy.”
Simpson County Judge-Executive Jim Henderson said he is pleased to see Simpson County grow its international presence.
“Eagle Press marks the second Canadian company to locate in Simpson County. We are really excited about the excellent jobs this well-known manufacturer is bringing to our area,” Henderson said. “The company has been in business for over 50 years and is a recognized leader in the manufacturing of presses that serve the automotive, appliance and aerospace industries. We look forward to Eagle Press becoming a part of our corporate community.”
Eagle Press will be the initial member of the community’s new industrial park.
“Eagle Press, the first industry to locate in our Henderson Interstate Industrial Park, will be employing an estimated 10 people and investing over $1 million in our community,” Franklin Mayor Ronnie Clark said. “We welcome this excellent industry to our community.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $200,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, Eagle Press can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.
For more information on Eagle Press America, visit www.EaglePresses.com.
A detailed community profile for Franklin (Simpson County) can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com.Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter. Watch the Cabinet’s “This is My Kentucky” video on YouTube.