New Hitachi Plant Coming-TO BEREA !

New Hitachi Plant Coming-TO BEREA !

Posted in the Russell Springs Forum

deja vue

Russell Springs, KY

#1 Aug 30, 2011
Hitachi North America has jsut announced a new small electric motor plant is coming to Madison County and will locate in Berea. Governor Beshear announced this plant is to be constructed and up and running in 2012 provding 130 initial factory jobs. Once again our lame Russell county Industrial Developmnet Authority has dropped the ball when it comes to recruiting and landing a new factory and more jobs for Russell county. Oh wait remember Hitachi has already "been there done that" when it comes to their previous Russell county experience! Perhaps the fact Hitachi top management can buy Japanese Sake and Kirin beer in Richmond that sealed the deal to locate in Berea!
look here

Russell Springs, KY

#2 Aug 31, 2011
At its monthly meeting last week, the Kentucky Economic Development Finance Authority board approved tax incentives for companies including Hitachi and J.M. Smucker that are making new investments in the state.

The approval of tax incentives outlines the state's commitment to a project should it occur in Kentucky.

In general, when a company accepts the tax incentive, it can keep that amount of money, which it would otherwise pay in taxes, assuming it fulfills the terms of the deal. Here are selected preliminary approvals from Thursday's meeting, unless otherwise noted:










■ The board approved granting $500,000 in Economic Development Bond funds to the City of Berea for the benefit of Hitachi, which is acquiring a former Panasonic manufacturing plant near its current Berea facility to build electric drive motors for the next generation of electric and hybrid electric vehicles.

Hitachi will be required to create 130 full-time jobs, paying an average hourly wage of no less than $13.50 including benefits. If it doesn't, it will be required to repay part of the funds
whoopty do

Russell Springs, KY

#3 Aug 31, 2011
and this is relevant to russell county how ?
duh

Russell Springs, KY

#4 Aug 31, 2011
whoopty do wrote:
and this is relevant to russell county how ?
NO NEW JOBS HERE COMPANY THAT USED TO BE HERE GOING THERE
whoopty do

Russell Springs, KY

#5 Aug 31, 2011
duh wrote:
<quoted text> NO NEW JOBS HERE COMPANY THAT USED TO BE HERE GOING THERE
why would we care ?
here you go

Russell Springs, KY

#6 Aug 31, 2011
whoopty do wrote:
<quoted text>
why would we care ?
By Kerri Richardson and Terry Sebastian
News from Governor Steve Beshears's Communications Office
BEREA, KY - Governor Steve Beshear today joined community leaders and officials from Hitachi Automotive Systems Americas Inc. to announce the company has selected the community for its third Kentucky manufacturing facility. The new plant, which will produce electric drive motors for hybrid and electric vehicles, will create 130 new jobs and a more than $74.5 million investment in the Commonwealth.
"Hitachi is a shining star in Kentucky's automotive industry," Gov. Beshear said. "Not only will this latest expansion bring Hitachi's Berea workforce to more than 1,070, it also enhances Kentucky's profile in the advanced hybrid automotive industry. We're positioning Kentucky to become the epicenter of the advanced automotive manufacturing industry, and strong relationships
Operations at the new plant in Berea are expected to begin in late 2011, with plans to ship the first electric motors from its Madison County factory in mid-2012.
"Hitachi is one of the few automotive suppliers with the capability to develop and produce our own lithium-ion batteries, electric drive motors and the electronic controls needed to manage hybrid electric vehicles," said Hitachi Automotive Systems Americas President Mark Fujisawa. "We are thrilled to open this new factory that will provide increased employment opportunities for the state coupled with spearheading Hitachi's manufacturing of hybrid electric vehicle motors for U.S. customers."
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Hitachi for tax incentives up to $4 million through the Kentucky Business Investment program. The performance-based incentive allows the 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.
KEDFA also approved Hitachi for tax benefits up to $100,680 through the Kentucky Enterprise Investment Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment. An Economic Development Bond grant in the amount of $500,000 was also approved for the city of Berea for the benefit of the Hitachi project.
"I am proud to be part of the community that is home to a wonderful workforce that provides companies the people they need," said Sen. Jared Carpenter, of Berea. "We are excited to see Hitachi make this huge investment in Berea and Madison County."
"This investment is the type of economic boost our Commonwealth needs by providing jobs and opportunity to the workforce in Madison and surrounding counties," said Rep. Lonnie Napier, of Lancaster. "Today's announcement speaks volumes about the quality of workers and the favorable economic climate we have in Kentucky."
"Hitachi is a company that builds success on traditional values and innovation," said Berea Mayor Steven Connelly. "When we learned that it would expand its automotive operation in Berea, our citizens and elected officials were deeply honored and very excited about the future. We are confident that the partnership between Berea and Hitachi will continue to grow and prosper into the 21st Century under Hitachi's inspired leadership. "
"This is such a wonderful announcement, especially at the present time, in the present economy," said Madison County Judge-Executive Kent Clark. "As always, much of the credit should go to Hitachi executives, Tom McCay and his staff and also to the quality of life that is unique to Madison County, Kentucky."
Hitachi's Madison County electric motor factory will be Hitachi's third automotive manufacturing operation in Kentucky and raises Hitachi's employment in the Commonwealth to over 1700 employees.
This story was posted on 2011-08-31 09:54:37
yep

Russell Springs, KY

#7 Sep 1, 2011
whoopty do wrote:
<quoted text>
why would we care ?
you need mental help!!!
bule moon

Russell Springs, KY

#8 Sep 1, 2011
Russell County needs need Industrial Recruitment Board members. Not the same ones term after term. Call your Co. Judge office and urge him to appoint new members. I think our new judge will listen to us.
look

Russell Springs, KY

#9 Sep 1, 2011
bule moon wrote:
Russell County needs need Industrial Recruitment Board members. Not the same ones term after term. Call your Co. Judge office and urge him to appoint new members. I think our new judge will listen to us.
Robertson campaigned that he would appoint new ones but you see the same ones still there and still NO JOBS ! The self serving ones on that board are making damn sure NO $13 an hour jobs ever come to Russell county and compete with local minimum wage sweat shops.
who cares

Russell Springs, KY

#10 Sep 1, 2011
hitachi was here, they werent the greatest bunch to begin with,, nobody really cares if they moved to berea.big deal
well

Russell Springs, KY

#11 Sep 1, 2011
who cares wrote:
hitachi was here, they werent the greatest bunch to begin with,, nobody really cares if they moved to berea.big deal
Don't find it odd they were paying minimum wages here but almost twice that now in Harrodsburg and Berea ?
whuuuut

Russell Springs, KY

#12 Sep 4, 2011
well wrote:
<quoted text>Don't find it odd they were paying minimum wages here but almost twice that now in Harrodsburg and Berea ?
i dont care abit, every thing pays better in harrodsburg and berea, period. The market is different there. hell i drive to berea every day to work, big deal
because

Russell Springs, KY

#13 Sep 5, 2011
The rich folks in this town only look after themselves. And good companies don't want to move to backwoods hick towns who are too stupid to keep up their infrastructure. Terry Stephens might say taxing him like everyone else will make all industry leave the county but good infrastructure and good social programs attract good companies. Poor social programs and poor infrastructure attracts slave jobs who want nothing but beasts of burden idiots to work the plantation.

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