FRANKFORT, Ky. (June 28, 2012) — A lawn and garden industry manufacturer will expand its Leithchield facility, creating 61 full-time jobs. Modern Transmission Development (MTD) is investing more than $3.7 million in the project.
“We’re thrilled to see the success and growth of Modern Transmission Development in Kentucky, which will result in dozens of new jobs for the Grayson County community,” Gov. Steve Beshear said. “The company has a key phrase — ‘the past we inherit, the future we create.’ This phrase demonstrates exactly the type of innovative spirit we strive to achieve here in the commonwealth.”
Founded more than 50 years ago, MTD manufactures a complete range of products to suit every type of lawn and garden need. As part of its multi-million dollar investment, MTD will purchase, relocate and install injection molding equipment for its Leitchfield facility, which currently employs 249 full-time Kentucky workers.
“Since opening our Leitchfield facility in 1995, MTD has experienced great success in working with the community and the Commonwealth,” said MTD General Manager Derek Clemons. “Kentucky, Grayson County and the city of Leitchfield continue to show great support to MTD, which, along with a great workforce, allows MTD to continue to invest in this community and its people. We look forward to this partnership continuing for years to come.”
The Kentucky Economic Development Finance Authority preliminarily approved MTD for tax incentives up to $1.25 million 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.
For more information on MTD, visit www.mtdproducts.com.