MURRAY, Ky. — Representatives from Hollobus Technologies Inc., a new subsidiary of Canada-based engineering design technology company Superior Tray Systems (STS), announced the company’s $2.25 million investment to locate in Murray and create 150 full-time jobs.
The investment will locate the company’s head office, primary manufacturing operation and an R&D facility at the former Briggs & Stratton location at 110 Main Street in Murray. The project will build out the new Hollobus product line, which serves as an alternative to electrical cabling for major industrial projects and is designed to survive extreme water events. Hollobus leaders have partnered with Murray State University to establish a workforce pipeline and have expressed intent to focus hiring efforts on recently discharged military personnel from nearby Fort Campbell.
“We were initially attracted to Murray, Kentucky because we were looking for a building in the mid-Southeast United States,” said Mihaela Adams, manager of global business development for Hollobus. “After coming here and working with local officials, we are excited to be part of the Murray community and look forward to having great success here for many years.”
Since 2005, STS has produced electrical power distribution connectors for a range of projects in the U.S., including the City of Boston water treatment facility, high rises in New York City, offshore oil rigs in Texas and various military installations. STS also provided electrical systems for the Richmond-Airport-Vancouver (RAV) Rapid Transit line for the 2010 Winter Olympics and Canadian Navy projects, as well as wind and waterpower inversion systems and mining applications in Central and South America. The company’s green manufacturing and business practices, such as precision molding and product development systems, contribute to a near-zero waste footprint.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in April preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.2 million in tax incentives based on the company’s investment of $2.25 million and annual targets of:
- Creation and maintenance of 150 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $22 including benefits across those jobs.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Hollobus can receive resources from Kentucky’s workforce service providers. These include no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.