Governor Steve Beshear today announced Horizon Steel, a producer of flat rolled steel products, plans to open a new facility in Bowling Green. The plant will become the exclusive processor of all steel products for Bilstein Group, a German company, which also plans to locate in Warren County.
Horizon will create 30 new jobs and a nearly $15 million investment in south central Kentucky as a result of the project.
"Horizon Steel and Bilstein Group's collaboration in south central Kentucky is further proof that the Commonwealth is a great place to do business on an international scale," said Gov. Beshear. "This partnership, which will result in the creation of 30 additional jobs, will make Kentucky a key player in the steel-processing industry, and I'm looking forward to the results."
Lt. Gov. Jerry Abramson joined state and local leaders and company officials in Bowling Green for today's announcement.
"With a perfect location and strong workforce, Horizon Steel is going to thrive here in Bowling Green," said Lt. Gov. Abramson. "We're glad the Commonwealth could play a role in making this sizable investment possible and we're proud to support the partnership between Horizon and Bilstein, and we wish them success."
U.S.-based Horizon Steel carries a full line of carbon based products including hot rolled, cold rolled, hot dipped, electro galvanized, galvannealed and aluminized in all grades. The company is also considered an expert in the advanced high strength steel market. Horizon will operate out of the Bilstein plant in the Kentucky Transpark in Bowling Green. Horizon will occupy 98,000 square feet of the facility, which will begin construction in the spring of 2015.
In early October, Gov. Beshear made the announcement that Bilstein will create 90 new jobs and a $120 million investment in the Commonwealth. The announcement comes on the heels of Gov. Beshear's return from an economic development trip to Europe in September, which included visits to companies in Germany, Spain and Austria.
Bilstein Group's location in Bowling Green marks the fourth German-owned site location project to develop in the last year. European companies, which employ nearly 26,000 people across the Commonwealth, have a strong presence in Kentucky, accounting for 170 of Kentucky's 400-plus foreign-owned firms.
"We are very excited to announce our expansion to Bowling Green, which we feel is a perfect complement to our other locations," said John Chirikas, CEO of Horizon Steel. "As our customer base continues to expand, we felt it was absolutely critical to position ourselves in a locale that will allow us to meet their demands. Bowling Green fits that description perfectly."
"It's an honor to have Horizon Steel choose Bowling Green as the location for its new facility," said Sen. Mike Wilson, of Bowling Green. "This is not just an investment in the region, it's a compliment to the quality of our workforce. We appreciate Horizon choosing Bowling Green as its new home."
"Many of us have worked hard over the years to promote Bowling Green and Warren County as a prime place to do business," said Rep. Jim DeCesare, of Bowling Green. "We are excited about Horizon Steel's decision to open a manufacturing plant in our community to better serve their existing customers while providing more jobs for our economy."
"This is great news for our community and further showcases the second-to-none role we play when it comes to manufacturing," said Rep. Jody Richards, of Bowling Green. "I want to thank Horizon Steel for investing so much in our community, and I'm certainly pleased that our state and local economic development officials are working together to make announcements like this possible."
"It's the location of companies such as Horizon that continue to allow Bowling Green and south central Kentucky to expand and thrive," said Bowling Green Mayor Bruce Wilkerson. "We are grateful for the opportunity to provide a place for these companies, and look forward to their continued success."
"We are always happy to celebrate the location of a new company into our region," said Warren County Judge-Executive Michael Buchanon. "What's even better is when that company not only invests in our community, but also improves the business climate for our corporate citizens. We couldn't be more pleased to welcome Horizon to the area."
To encourage the investment and job growth in Warren County, the Kentucky Economic Development Finance Authority preliminarily approved Horizon Steel for tax incentives up to $1.5 million 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.
For more information on Horizon Steel, visit www.horizonsteel.com.
Warren County has also been certified by the Kentucky Workforce Investment Board as a Work Ready Certified Community. The certification is an assurance to business and industry that the community is committed to providing the highly skilled workforce required in today's competitive global economy.
A detailed community profile for Bowling Green (Warren 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 at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky.