Expects to add 24 jobs
INDEPENDENCE, Ky. (Sept. 15, 2014) — Gov. Steve Beshear today joined local and company officials to celebrate the opening of Balluff Inc.’s new U.S. headquarters building in Independence.
Balluff, a world leader in sensor technology, expects to add 24 new jobs and invest $6 million as part of the expansion.
One of the world’s leading automation suppliers, Balluff specializes in products for industrial sensing, networking and identification devices. The company’s new 48,000-square-foot building will be a state-of-the art customer support, training, and sales and marketing center. The facility includes “green concepts” and worker-friendly features, such as access to daylight from all employee workspaces.
Balluff is the U.S. subsidiary of Balluff GmbH, based in Neuhausen, Germany. The company’s U.S. headquarters currently employs more than 150 people and has been located in Independence since 1983, with expansions in 1994 and 2001. The facility is the final assembly, distribution and training site for Balluff in the United States.
To encourage the investment and job growth in northern Kentucky, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $300,000 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.
KEDFA also approved Balluff for tax benefits up to $150,000 through the Kentucky Enterprise Initiative 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.
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