Commonwealth of Kentucky
Cabinet for Economic Development

INTEGRATED ENERGY TECHNOLOGIES ANNOUNCES LOCATION OF CORPORATE HEADQUARTERS IN NORTHERN KENTUCKY

Frankfort, Ky. - Governor Ernie Fletcher and Cabinet for Economic Development Secretary Gene Strong announce that Integrated Energy Technologies, Inc. (IET) will locate its corporate headquarters in Boone County. The company plans to initially create at least 15 new high quality jobs.

"We are pleased that Integrated Energy Technologies has chosen Kentucky as the place to do business," Governor Fletcher said. "My administration will continue to work to bring new high-tech opportunities to our citizens through our JOBS for Kentucky initiative."

Manufacturing highly sensitive components for international industry leaders such as General Electric, Siemens Westinghouse, Rolls Royce, General Dynamics and others, IET has evolved into one of the fastest-growing integrators of highly engineered products in the nation.

"The Cincinnati/Northern Kentucky International Airport and its hub status for Delta Air Lines weighed heavily in our decision to locate our corporate headquarters and product showroom in Northern Kentucky," stated David Salkowski, Vice President and Chief Financial Officer of IET. "The accessibility to our manufacturing facilities across the country as well as the convenience for business partners to visit our headquarters was the final deciding factor in our decision-making process."

"The IET announcement is particularly exciting because it meets two of Northern Kentucky Tri-ED's avowed goals," Gary Moore, Boone County Judge Executive said. "IET represents both a corporate headquarters location and a desirable "New Economy" organization that brings excellent knowledge-based job opportunities to our community. We are fortunate to have a company like IET select Northern Kentucky as their new home. This successful project adds to the overall vitality and quality of life that we want to preserve because it represents a bright future for our region's economy."

As with many of today's technology leaders, working on United States Government contracts has pushed IET to grow and to bring world-class technology and innovation to the marketplace. Using diffusion bonding and internal cooling geometries, they have built combustion engine components that can withstand extreme heat in short-term periods (in excess of 3000 degrees Fahrenheit) for gas turbine engines.

With such success, IET's revenue quickly grew to include other high-tech military components for aerospace applications. Based upon IET's innovation and development of quality products, the company recently secured work for the Joint Strike Fighter Jet, a program that comes with global recognition in manufacturing quality and excellence.

"We are excited to officially begin our partnership with Integrated Energy Technologies," said Dan Tobergte, President and CEO of Northern Kentucky Tri-ED . "IET represents the type of company that we aspire to have locate in our region. IET is a growing, high tech firm in an emerging industry creating very desirable, professional positions. I am confident that IET will become an excellent addition to our Northern Kentucky community."

The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved IET for up to $890,000 in tax benefits under the Kentucky Jobs Development Act, an incentive program aimed at increasing the number of service-and technology-related jobs in the state. Northern Kentucky Tri-ED's website can be found at http://www.northernkentuckyusa.com/.

The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2004 totaled nearly $2.3 billion with the creation of just over 16,600 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at http://www.thinkkentucky.com/.