Located in Henderson County
FRANKFORT, Ky. (Oct. 18, 2016) — Gibbs Die Casting, a supplier of innovative, high-quality aluminum die cast components and assemblies, will expand its North American Manufacturing Complex in Henderson with a $10 million investment projected to create 46 full-time jobs.
Gibbs will invest in new equipment and building modifications in Henderson to capitalize on new market opportunities and advanced lean-manufacturing methods. The company supplies aluminium die-cast-and-machined and assembled components for the automotive and some non-automotive customers. The Henderson campus currently operates two die casting plants and a machining plant. The expansion will re-open an additional die cast plant and an additional machining facility.
Founded in Henderson in 1965, Gibbs is a Tier 1 and Tier 2 supplier to the automotive industry. It has grown into one of the world’s largest die casting companies with locations in Brazil, Hungary and China.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in August preliminarily approved the company for tax incentives up to $800,000 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.
Additionally, KEDFA approved Gibbs Die Casting for up to $35,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
In addition, Gibbs Die Casting 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.