FRANKFORT, Ky. (WTVQ/Press Release) – Wieland North America Inc., a producer of copper and copper alloy products, plans a new North American headquarters in Louisville, a project expected to bring 75 jobs with an $8.8 million investment.
“As we build toward a better future for Kentucky, creating well-paying jobs for our residents, families and communities is key,” Gov. Andy Beshear said. “Wieland’s new North American headquarters will certainly add new momentum to that initiative and help make the state economically stronger than ever. I want to thank Wieland’s leadership for selecting Kentucky for continued growth, and I look forward to helping the company succeed and increase its footprint in the commonwealth for years to come.”
The new headquarters on Olympia Park Plaza – near the intersection of Interstate Highway 71 and the Gene Snyder Freeway – also will house Wieland Rolled Products North America LLC, formerly Olin Brass, which was acquired in July 2019.
Both are subsidiaries of Ulm, Germany-based Wieland-Werke AG.
The new office will lease one floor of Olympia Park Plaza, providing nearly 30,000 square feet for its headquarters and shared-services operations and personnel, which include Wieland North America’s leadership, financial, legal, human resources, sales and marketing and supply chain teams.
Company leaders expect the office to be fully open by the end of Q1 2021, subject to pandemic-related requirements.
“Wieland has a rich heritage – developed over 200 years with thoughtful decision-making, courage and entrepreneurship,” said Wieland North America Chief Financial Officer Matt Bedingfield. “Today, we focus on sustainability – laying the foundation for the next 200 years. The success of our company is based on the dedication and expertise of our people. We want to create a functional, innovative and welcoming workplace where our employees will thrive. We are excited to do this work in Louisville and look forward to expanding our story and footprint here.”
Wieland North America manufactures copper and copper-alloy products, including sheet, strip, foil, tube and other fabricated components for customers throughout North America.
The company also rerolls and forms other metals, such as stainless and carbon steel. Its products are used in a variety of industries, including building and construction, munitions, automotive, coinage and electronics/electrical components.
Currently, 234 metals-related facilities operate in Kentucky, employing approximately 25,000 people.
Since 2019, Kentucky saw 36 new-location and expansion projects announced in the metals industry, creating over $1.86 billion in new investment and 1,500-plus projected new jobs.
Kentucky also is home to more than 1,000 corporate headquarters, a group that saw 2,110 new jobs announced since 2019 across 43 expansion and new-location projects.
Wieland North America joins 78 German-owned facilities currently operating in Kentucky, including manufacturing, service and technology companies, which employ nearly 14,000 people in the commonwealth.
Louisville Mayor Greg Fischer welcomed the company’s creation of quality job opportunities.
“With plans to nearly triple its local workforce and locate its North American headquarters in Louisville, Wieland is proof of the strength of our city’s manufacturing sector even through the COVID-19 pandemic,” Mayor Fischer said. “We are happy to support this project, which will bring new high-wage, senior-level positions to our city.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) last week preliminarily approved a 10-year incentive agreement with Wieland North America under the Kentucky Business Investment program.
The performance-based agreement can provide up to $3 million in tax incentives based on the company’s investment of $8.8 million, including rent and improvements, and annual targets of:
The creation and maintenance of 75 Kentucky-resident, full-time jobs across 10 years, with those positions paying an average hourly wage of $93, including variable compensation and benefits. Eligible positions will range from $26 per hour to well over the average hourly rate in some cases.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Wieland 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.