Lyons Magnus announcement caps off three months of significant economic activity
FRANKFORT, Ky. (April 24, 2013) – Today’s announcement that Lyons Magnus Inc. will expand its operations in Boone County caps off three months of significant economic development activity in Northern Kentucky.
Lyons Magnus, which develops and markets products for the foodservice industry, will add 50 jobs to is workforce of 120 and invest $5 million. The company plans to purchase land to build a new facility for food processing, warehousing space and shipping, as well as add a new production line at its existing operation.
The announcement comes on the heels of Tuesday’s announcement from Messier-Bugatti-Dowty, which plans to expand its wheels and carbon brakes facility in Walton, Ky. in Northern Kentucky and increase its workforce by 10 percent.
The momentum continues after two economic development announcements last week and several major project announcements this year.
Last week, Southern Air announced it would move its global headquarters to Northern Kentucky with 150 jobs in the city of Florence (investing $3.5 million), and ZoomEssence announced it will create 20 jobs and invest more than $3 million in its research and development location in Hebron.
Two weeks ago, Balluff Inc. and Kentucky officials broke ground on the company’s new U.S. headquarters building in Independence. Balluff expects to add 24 new, full-time Kentucky resident jobs and invest $6 million as part of the expansion.
Earlier this year, Westpack announced Feb. 11 that it would make a $4.49 million investment and establish a bottle decorating and packaging manufacturing facility in Covington, Ky., with 63 new jobs.
On Feb. 4, Newly Weds Foods and Northern Kentucky Tri-ED announced the company would purchase an existing 326,000-s.f. facility located in the Circleport Business Park in Erlanger, Ky., invest $57 million and create 115 new jobs.
In 2012, 24 companies announced new locations or expansions in the Boone, Campbell and Kenton County region. Nearly 4,000 jobs are projected as a result of these announcements, according to Tri-ED.
Those 24 companies are expected to have a total impact of 5,949 jobs and more than $721 million of investment in the Northern Kentucky area, according to the Northern Kentucky Tri-County Economic Development Corp. (Tri-ED).