FRANKFORT, Ky. (WTVQ) – A Danville international company will be creating up to 83 full-time jobs with a nearly $82.7 million investment in Danville, Gov. Matt Bevin announced Friday.
The company is called Meggitt, it’s an international company specializing in increasing commercial and military aircraft carbon brake manufacturing capacity.
They are currently employing more than 200 people, the company continues its strong upward trajectory within the commonwealths aerospace industry.
Officials say Meggitt has played a significant role in the economy of the Boyle County community since locating there 13 years ago.
The project will allow the company to fulfill increasing orders following recent contract awards for braking systems.
The new facility also will serve as an MRO hub to meet rising demand for aircraft maintenance.
The 95,000-square-foot expansion would include new carbon furnaces plus ancillary equipment, as well as upgrades to existing machinery.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program.
The performance-based agreement can provide up to $1.4 million in tax incentives based on the companys investment of $82.68 million and annual targets of:
• Creation and maintenance of 83 Kentucky-resident, full-time jobs across 15 years
• Paying an average hourly wage of $18 including benefits across those jobs
For more information on Meggitt, visit www.Meggitt.com.