Erlanger relocation creates jobs
February 7, 2012 by James
The governor of Kentucky has announced the creation of 19 new jobs in the energy sector.
Two power resistor operations are joining forces by merging and moving to Boone County. One is an Ohio operation and the other is based in Erlanger.
Post Glover is expanding operations by merging the two into a single $5 million operation, according to Governor Steve Beshar.
The expansion initiated by Post Glover is a significant investment in Kentucky’s Commonwealth.
“Post Glover’s decision to reaffirm its commitment to the Northern Kentucky region speaks volumes about the business climate and leadership in the area,” Beshar said.
The two facilities, one in Milford, Ohio and the other in Erlanger, were 35 minutes away from each other. The resources from each plant will merge under one roof in Boone County, close enough to enable Erlanger print companies to retain customers.
The expansion undertaken by Post Glover has been expedited by a tax incentive provided by the Northern Kentucky Economic Development Finance Authority (KEDFA). The incentives, which could be as much as $300,000, allow Post Glover to retain part of its investment for a set period of time by achieving certain job and investment requirements, providing the company corporate income tax credits.
In addition, a tax break of $49,000 was approved via the Kentucky Enterprise Initiative Act. This incentive was developed so that companies can recover tax costs on purchases such as building fixtures, electronics, construction costs and research and development equipment.
“On behalf of the Northern Kentucky community, we are pleased Post Glover Resistors has decided to expand their manufacturing operation in our area,” said Jeff Earlywine, Boone County Deputy Judge-Executive.