Invested $9.3 million in project
FRANKFORT, Ky. (Oct. 18, 2016) — Meggitt Aircraft Braking Systems (MABS) held a ceremony today in Danville to celebrate its $9.3 million expansion project that will create 66 jobs.
During the two-part project, MABS relocated and integrated its wheel-and-brake maintenance and repair operations facility from Akron, Ohio to Danville. The company also expanded its carbon brake manufacturing capacity with three new production furnaces and related support machines.
Expansion will help MABS meet current and future demand from new clients, including providing components for the Canadian Bombardier C-Series aircraft and Gulfstream 650 Business Jet.
MABS provides aircraft braking systems to a wide range of customers including airline operators, aircraft constructors, private aircraft owners, charter operators, government and military operations as well as distributors and repair stations. The company initially located its carbon brake manufacturing facility in Danville in 2005. In 2011 it added an assembly and distribution operation, bringing its total Kentucky investment to approximately $70 million. MABS currently employs about 185 people in Danville.
“Over the past decade, Meggitt Aircraft Braking Systems has become a substantial employer and a major player in Boyle County’s economy,” said Gov. Matt Bevin. “This new expansion represents the company’s ongoing commitment to central Kentucky and exemplifies the Commonwealth’s increasing role in the global aerospace industry.”
Aerospace products and parts remains Kentucky’s largest export category by dollar amount. Last year, the state exported more than $8.7 billion worth. This year through July—the most recent monthly figures available—the commonwealth’s aerospace companies exported in excess of $6 billion in products and parts, putting the category nearly 22 percent ahead of the same months the year prior.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in March 2015 preliminarily approved the company for tax incentives up to $1.7 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, Meggitt can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.