Governor Steve Beshear announced today that German Automotive Supplier iwis will be establishing a manufacturing plant in Murray, which will create 75 new jobs.
The $12.5 million investment stems from Governor Beshear’s recent economic development trip to Germany.
Governor Beshear was quoted saying that he was very optimistic after meeting with company officials in Germany and that he was thrilled with their decision to locate in Kentucky.
The company has over 1,000 employees at 22 worldwide facilities and plans to operate a 119,000-square-foot facility, located off U.S. Highway 641 North in Murray .
Employees at the facility are expected to manufacture timing drive systems for engines.
The manufacturing plant will be in operation sometime at the end of 2013 with production to ramp up in 2014.
To encourage the investment and job creation in Murray , the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $2.5 million through the Kentucky Business Investment program.