Supplier of high performance pneumatic motion and fluid control solutions to invest $1.8 million
FRANKFORT, Ky. (May 23, 2012) — Norgren Inc., a world leading supplier of high performance pneumatic motion and fluid control solutions, plans to relocate a service operation from Texas to Louisville, creating 22 jobs and investing $1.85 million in Kentucky.
“We’re delighted to welcome a global powerhouse like Norgren to the Commonwealth,” Gov. Steve Beshear said. “The advantages Kentucky offers, with our ideal geographic location and global shipping options, allow Norgren to improve serviceability and outreach potential, providing a win-win for the company and Kentucky.”
Norgren, which has been in business for more than 70 years, has 22 manufacturing locations globally and a sales and service network in 75 countries. The company offers sector expertise covering industrial automation, life sciences, energy, rail, commercial vehicles, and food and beverage industries.
“Louisville is a great place for us because of its proximity to our customer base,” said Andy Thompson, Norgren vice president, supply chain and logistics. “This, along with the density of shipping operations, means more than 70 percent of orders will be in transit three days or less. And people in Kentucky really have embraced us and done everything to make this a smooth, successful transition.”
The Kentucky Economic Development Finance Authority preliminarily approved Norgren for tax incentives up to $225,000 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.
“I am thrilled that Norgren has chosen to move an existing operation from Texas to Louisville,” said Sen. Gerald A. Neal of Louisville. “This investment will allow our city to reap the rewards of economic growth, development and new jobs. It also speaks well of our workforce that they have chosen to locate here. I applaud Gov. Beshear for taking the lead to support our industry.”
“It’s great to have Norgren become a member of our Louisville business community,” said Rep. Larry Clark, of Louisville. “The Cabinet for Economic Development’s toolbox of incentives keeps delivering new jobs and investment in Kentucky. Every new job we create matters in this challenging economic environment. The Cabinet and Gov. Beshear should be commended for their smart, aggressive work in identifying companies like Norgren that want to come to Kentucky and for designing incentives that encourage these new investments.”
For more information about Norgren, visit www.norgren.com.