FRANKFORT, Ky. (April 30, 2015) – Governor Steve Beshear today announced that Paris Machining LLC is planning an expansion in Paris.
Paris Machining, a precision machining company of automotive products, such as front axle steering arms for heavy trucks, is expected to create up to 30 jobs and invest $4.2 million into the project.
“Automotive manufacturing is such a crucial component for our economy, and we’re excited that Paris Machining has chosen to expand its facility here in central Kentucky,” said Gov. Beshear. “The 30 new jobs and $4.2 million investment show the company’s commitment to its workforce and the community. I congratulate Paris Machining on its success.”
One of the companies Paris Machining serves is doubling its capacity, which will require Paris to purchase new equipment and hire more employees to meet the demand. The company also will add 16,000 square feet to its 26,000-square-foot facility on Wes Lee Drive. The project will begin later this spring and is expected to be completed next year.
“We are excited about our upcoming expansion and the opportunities it will provide to our company, its employees, and the community,” said Gary Linville, member-manager of Paris Machining.
Established in Bourbon County in 2010, Paris Machining is a precision machining company of high volume products. The company’s primary customer is an axle manufacturer. Paris Machining ships products throughout the U.S., as well as Mexico, Brazil, China, Australia and India. The company has grown from two employees to its current 44 workers.
“I am very excited and encouraged to see a home-grown company expand its operations and create more jobs,” said Sen. Steve West, of Paris. “Paris Machining is a great example of the potential for success in our state.”
“I want to start by thanking Lonnie Conley, Gary Linville and the entire staff at Paris Machining for continuing to invest in our community,” said Paris Mayor Mike Thornton. “They have been a valuable asset to Paris and Bourbon County for many years. Their continued dedication in the automotive field has allowed them to offer well-paying jobs and benefits to their employees and has put them on solid footing for many years to come.”
“The Bourbon County Fiscal Court appreciates the positive impact that Paris Machining has always and continues to have on the community,” said Bourbon County Judge-Executive Michael Williams. “We are proud to have them as an important part of our economic vitality and an important participant in our plans and aspirations towards growth and increased job opportunities. The leadership staff at Paris Machining has always had the best interests of their employees at heart, making their reach significant throughout the community. We look forward to a bright and prosperous future for the company and its role as a business partner in Bourbon County.”
To encourage the new investment and job growth in Paris, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $460,000 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.
In addition, Paris Machining is eligible to 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 4,100 Kentucky companies.
For more information on Paris Machining, visit www.parismachining.com.
A detailed community profile for Paris (Bourbon County) can be viewed here.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2015 totaled a state record $5.1 billion, spurring more than 16,000 projected new jobs. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.