Kentucky

NTT DATA Expansion to Create 300 New Jobs in Louisville, Kentucky

Business and IT services provider NTT DATA, Inc. announced plans for an expansion of its North America Service Delivery Center (NASDC) located in Louisville, KY.

NTT DATA

NTT DATA (photo – nttdata.com)

As part of this expansion, NTT DATA will be creating more than 300 new jobs, all of which will be local hires in Louisville, and all of them will be focused exclusively on financial services.

Jim Milde, president, NTT DATA Financial Services and Insurance, said in a statement that they currently work with 25 of the leading financial institutions in North America.

“The addition of a financial services focus at the NASDC further strengthens our ability to help financial services clients successfully manage the relentless pressures of regulatory compliance and capital requirements,” said Milde.

Plano, TX-based NTT DATA already has over 80,000 professionals located at facilities in over 40 countries, with its global headquarters in Japan. The company is part of the NTT Group, one of the world’s largest technology services companies that generates more than $100 billion in annual revenues.

The company already has a strong, long-term presence in the state of Kentucky serving commercial, public sector, and now financial services clients. Their NASDC facility first opened in 2013, and its location allows for local talent to work with cutting edge technology for leading industry and state and local organizations. Not to mention also helping showcase their capabilities with the company’s global clients.

Mayor Greg Fischer also highlighted the Louisville workforce and economic development benefits for the city and its growing business and financial services sector. “NTT DATA’s 300-job Louisville expansion exemplifies our city’s business environment and outstanding workforce, specifically in the financial services sector and our high quality of life,” said Mayor Fischer. “We are excited about NTT DATA’s investment in our city and the new opportunities for job growth.”

Louisville is already home to many financial services companies such as ComputerShare and other processing operations that serve to prove Louisville’s strength in the Business Services cluster as a great place to do business. Also, Louisville economic development agency Louisville Forward has a team of staff dedicated to the Business Services cluster.

This growth in the cluster is supported by deep talent pool. Louisville is home to strong educational growth in finance, business, marketing and related fields, and a full 41.5 percent of the city’s workforce holds an associate degree or higher. Also, the city has reputed businesses such as human resources consultant Mercer.

Texas, Kentucky Retain Site Selection Governor’s Cup

In its March issue, Site Selection magazine has declared Texas and Kentucky as the winners of its 2015 Governor’s Cups – Texas for the most number of total qualifying economic development projects and Kentucky for total projects per capita.

Texas

Texas (photo – state.tx.us)

Both Texas and Kentucky will retain their Governor’s Cups after having won it for their 2014 projects, but both states have also improved on their projects tally.

Texas racked up 702 projects in 2015, up from 689 in the previous year. Kentucky likewise had 285 in 2015, up from 258 the previous year.

One more continuing winning streak in the rankings was demonstrated by Ohio, which has retained its second place showing in the total projects category for four years running now. But it managed 517 projects in 2015, which is down from 582 the previous year. Also, Ohio dropped down to third place in the per capita category, with Nebraska jumping up from 28th place in 2014 to second place in 2015 for its projects tally per capita.

These rankings are based on Conway Inc.’s Projects Database. Qualifying projects must meet one or more of these criteria for inclusion in the database – a minimum capital investment of $1 million, 20 or more new jobs created, and 20,000 or more square feet of new space.

Based on these criteria, here’s Site Selection magazine’s list of the top 10 states by number of economic development projects for 2015:

  1. Texas – 702
  2. Ohio – 517
  3. Illinois – 413
  4. North Carolina – 300
  5. Kentucky – 285
  6. Michigan – 217
  7. Georgia – 211
  8. Pennsylvania – 202
  9. Virginia – 167
  10. Indiana – 166

Ohio also fared well in Site Selection’s listing of the Top 10 Metro Areas with the Columbus Region and Cincinnati in the top five among peer metropolitan areas with populations greater than 1 million, along with Chicago, Houston, and Dallas-Fort Worth. Other Ohio cities recognized in the top metro areas in other population categories include Akron, Dayton, Findlay, Lima, and Wooster.

Kenny McDonald, president and chief economic officer of Columbus Region economic development organization Columbus 2020 said in a statement that the Columbus Region’s continued rise on this list year after year is a testament to the tireless teamwork, effort and collaboration among state and local economic development partners. “This ranking puts the Columbus Region on center stage as one of the strongest and vibrant economies in the U.S.,” added McDonald.

See the full listings and details about the Site Selection Governor’s Cup, the top states for attracting projects, and the top 10 metro areas at siteselection.com.

Law Firm Hogan Lovells Selects Louisville, Kentucky For Global Services Center

Global law firm Hogan Lovells has announced the selection of Louisville, KY for a new global business services center to provide support for their Americas offices.

Hogan Lovells DC offices

Hogan Lovells DC offices (photo – future.agenda/flickr)

This will be the firm’s second global business services center, and their first one in the United States. It will provide U.S. time zone support and also connect to services delivered through the firm’s other global business services center in Johannesburg, South Africa.

Scott Green, Hogan Lovells’ Global Chief Operating and Financial Officer, said in a statement that “The center in Louisville will work closely with its counterpart in Johannesburg to create an extended working day, helping us gain the benefits of the global nature of the firm.”

Supported by up to $4 million in Kentucky economic development tax incentives, the law firm is making a $8.9 million investment into the project, and expects to create 250 new high-quality jobs for Louisville.

Hogan Lovells was formed in May 2010 as a result of the merger of U.S.-based law firm Hogan & Hartson and European firm Lovells. The merged business, co-headquartered in Washington, DC and London, is now considered to be among the top 10 international legal practices in the world, operating from 49 offices in 25 countries, employing more than 2,500 lawyers and 5,000 people in total. Hogan Lovells generated annual revenues of $1.82 billion last year, with the Americas representing approximately 50 percent of total billings.

Governor Matt Bevin noted that “As one of the world’s most influential law firms, Hogan Lovells’ decision to locate a business services office in Kentucky is a testament to the quality of our workforce and the desirability of our location.”

Louisville Mayor Greg Fischer likewise said that “As an international law firm, Hogan Lovells’ investment further enhances Louisville’s presence in the global economy.”

Cole Finegan, Hogan Lovells’ Regional Managing Partner for the Americas, explained that they chose Louisville as it has an excellent supply of talented people, is well placed in terms of time zones and offers good opportunities for cost savings when compared to Washington, DC and a number of our other existing office locations.

In order to secure the project, the Kentucky Economic Development Finance Authority (KEDFA) has preliminarily approved up to $4 million in tax incentives for Hogan Lovells through the Kentucky Business Investment program. The firm is also eligible to receive resources from the Kentucky Skills Network.

Deana Karem, Greater Louisville Inc. vice president of economic development, said that Hogan Lovells’ choice to locate in Louisville is a testament to the success of regional partnerships. GLI is the regional economic development organization serving Greater Louisville.

Pilgrim’s Pride Corp Announces $190M Investment in WV, AR, KY and Other Plants

Pilgrim’s Pride Corporation (NASDAQ:PPC) has announced a strategic capital investment plan to reinvest $190 million back into its business through expansions and facility improvements at several of its operations in different states.

Pilgrim's Pride former headquarters in Pittsburg, TX

Pilgrim’s Pride former headquarters in Pittsburg, TX (photo – John Bonzo/wikimedia)

The investments include a Mayfield, KY economic development project that will generate a $20 million investment and result in the creation of 150 new jobs at this facility during this year. The investment is being made to reengineer the facility to improve its value-added product mix in alignment with the needs of a key customer.

Also part of the investment plan is a $35 million investment to acquire property and construct a new feed mill in Nashville, AR, to lower feed costs, enhance feed conversion and improve live poultry performance.

Another $25 million investment at the Pilgrim’s Moorefield, WV prepared foods facility will be made to enhance existing fully cooked chicken lines and add an additional line to meet growth demands for the Pierce Chicken brand. The company is already a strong community partner in key Moorefield economic development and infrastructure projects such as a $40 million wastewater treatment facility that serves the small town’s residents as well as the Pilgrim’s facility and other nearby systems.

An additional $18 million investment will be made at a Pilgrim’s case ready facility to streamline deboning and packaging processes.

Pilgrim’s Pride Corporation President and CEO Bill Lovette said in a statement that “Our cash flow reinvestment plan will present opportunities for our customers to accelerate sales, improve profitability and grow their businesses.”

Pilgrim’s Pride Corporation’s history dates back to 1946, when a feed store was opened by Bo Pilgrim and his brother in Pittsburg, TX. In 2009, JBS USA Holdings, Inc., a subsidiary of Brazil-based JBS S.A., became a majority stock holder in Pilgrim’s after the latter’s bankruptcy filing. As a result of this reorganization, the company shut down its corporate offices in Texas and relocated its headquarters to Greeley, CO in 2011.

Referring to the company’s $190 million reinvestment plan, Pilgrim’s Pride Corporation CFO Fabio Sandri added that “Our strategy remains to explore every opportunity at our disposal to grow our business and create shareholder value. Today’s announcement reinforces Pilgrim’s commitment to operational excellence, sustainable growth and margin creation.”

The Greeley, CO-based Pilgrim’s Pride Corporation is currently the largest chicken producer in the United States, and the second-largest in Mexico. The company employs approximately 39,000 people and operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico.

Aetna CEO Comments Raise Questions About Headquarters Relocation to Louisville, KY

At the recent annual meeting of Greater Louisville Inc., the special guest speakers of the evening were Aetna Chairman and CEO Mark Bertolini and Humana President and CEO Bruce Broussard.

Aetna headquarters, Hartford, CT

Aetna headquarters, Hartford, CT (photo – grendel|khan/wikimedia)

Last year in July, Aetna (NYSE: AET) announced the acquisition of Humana Inc. (NYSE: HUM) for a combination cash and stock deal valued at $37 billion.

At that time, GLI President and CEO Kent Oyler released a statement announcing that Aetna had committed to locating the combined Aetna-Humana Medicare, Medicaid and TRICARE operations headquarters in Louisville. “That is a big win up front. Together these units represent the majority of the merged companies revenues and employ the majority of the Humana’s Louisville employees,” said Oyler.

Oyler also noted that GLI will continue work with the Mayor and Governor to present Greater Louisville as the best location in the nation to grow the consolidated operations of Aetna and Humana. “We will also encourage the many local vendors and suppliers to Humana to work to expand their relationships to include Aetna,” added Oyler.

The lead Greater Louisville economic development organization’s subsequent efforts in this matter seem to have worked pretty well, since the question now is about whether Aetna will take this opportunity to locate the combined new entity’s corporate headquarters in Louisville too. Aetna’s current corporate headquarters is located in Hartford, CT. Humana is already headquartered in Louisville, KY.

Last year, when GE CEO issued a public statement about their plans to initiate a site selection process to look for a new headquarters location because of an increase in taxes proposed in Connecticut’s state budget, one of the other companies that added their voice to GE’s protest was Aetna. At that time, Aetna said in a statement that the passage of the proposed new state taxes would result in Aetna looking to reconsider the viability of continuing major operations in the state.

Now GE has announced that it is relocating its headquarters from Fairfield, CT to Boston, and at last week’s Greater Louisville Metro Chamber’s Annual Meeting, the Aetna CEO spoke about their plans to merge the two health insurance companies, and reaffirmed their commitment to Louisville.

“We’ve made a commitment to only one community as part of our worldwide business and that’s Louisville,” said Bertolini.

Hartford, CT-based Aetna has about 50,000 employees and generated approximately $60.3 billion in revenue last year.The new combined entity with Humana would have generated projected operating revenue of approximately $115 billion last year, and will have over 33 million medical members.

Piramal Pharma Injects $10M and 40 New Jobs Into Lexington Through Coldstream Labs

Coldstream Laboratories Inc., formerly a unit of the University of Kentucky College of Pharmacy, will create 40 new jobs and expand capabilities.

Coldstream Labs

Photo – coldstreamlabs.com

Piramal Pharma Solutions, which purchased Coldstream Labs a year ago, plans to invest $10 million and expand Coldstream Labs’ manufacturing facility in Lexington, KY.

Governor Matt Bevin said in a release that “On behalf of all Kentuckians, I congratulate and thank Piramal Pharma Solutions and Coldstream for this investment to further strengthen Kentucky’s pharmaceutical industry.”

Coldstream Labs was founded in 1991 as the Center for Pharmaceutical Science & Technology, a unit of the University of Kentucky College of Pharmacy. In 2007, the college spun it off as Coldstream Labs, a private company owned by the University of Kentucky Research Foundation.

As an independent business, Coldstream Labs gained the ability and technical expertise to manufacture liquid and freeze-dried injectable products. Since the transition to private business, Coldstream has already expanded laboratory and business office facilities and tripled in number of employees.

In January 2015, the Research Foundation sold Coldstream Labs to Piramal Pharma Solutions, the flagship division of the India-based Piramal Group. As a part of Piramal, Coldstream now has access to the financial resources required to expand its facilities in Lexington to continue to meet the needs of its customers.

Vivek Sharma, CEO of Piramal Pharma Solutions, said in the release that since their initial investment, the Kentucky site has demonstrated both leadership and growth, and added that they are pleased to announce this subsequent phase of investment to enhance capability and capacity.

“We appreciate the active support from the State of Kentucky, the local Government, and most importantly, the community, as we continue our growth plans in Lexington,” added Sharma.

The $10 million investment the company is now making in Coldstream Labs is supported by $940,000 in tax incentives preliminarily approved by the Kentucky Economic Development Finance Authority (KEDFA). This includes $800,000 through the Kentucky Business Investment program and another $140,000 under the Kentucky Enterprise Initiative Act (KEIA). Coldstream Labs can also receive resources from the Kentucky Skills Network.

Lexington Mayor Jim Gray noted that “The excellence of the University of Kentucky Pharmacy program and the brainpower it has brought to Lexington are creating good jobs for our citizens.”

Lexington economic development agency Commerce Lexington Inc. President and CEO Bob Quick, CCE, added that “Foreign direct investment is an important component to economic development, and Coldstream Laboratories is a perfect example of a locally grown company with an international reach.”

Haier to Retain GE Appliances Headquarters in Louisville, KY

General Electric announced that it has signed a definitive agreement to sell its Appliances business to Qingdao Haier Co., Ltd. for $5.4 billion.

Haier

Haier (photo – Soctech/flickr)

GE Appliances is headquartered in Louisville, KY and has nine manufacturing plants across five states in the U.S. In 2014, GE Appliances had approximately $5.9 billion in revenue. The company employs approximately 12,000 employees globally, 96 percent of whom are based in the United States.

Qingdao Haier Co., Ltd. is a Shanghai stock exchange-listed company that is 41 percent owned by Haier. Qingdao Haier acquired all overseas operations of Haier Group in June 2015, as part of the expansion of Haier’s global business.

Qingdao, China-based Haier said in a release that GE Appliances will remain headquartered in Louisville. The business will continue to be operated independently under the direction of a local board with the participation of GE’s current senior management team, who will guide the strategy and operations of the business. Haier says it is committed to investing in the continued growth of the U.S. business.

Jeff Immelt, CEO of GE, said in the release that “We are pleased to be selling our Appliances business to Haier and to launch this new partnership. Haier has a stated focus to grow in the U.S., build their manufacturing presence here, and to invest further in the business.”

Zhang Ruimin, chairman and CEO of Haier Group, added that “Haier is committed to investing in the U.S. In addition, together Haier and GE will explore opportunities for joint collaboration and, in doing so, establish a type of new alliance with comprehensive strategic cooperation between two world-class enterprises, which reflects our common understanding on opportunities brought by the Internet Era.”

Louisville Mayor Greg Fischer issued a statement in which he says that “I’ve been in regular contact with Chip Blankenship, president and CEO of GE Appliances & Lighting, and in sharing this news yesterday he assured me that Haier sees value in GE Appliances – quality, innovation, a strong team – and is very committed to the U.S.”

“That’s good news for city, for the leadership team at Appliance Park and for GE’s dedicated 6,000 employees,” said Mayor Fischer. The Mayor added that the Louisville economic development team (Louisville Forward) has been communicating with Haier since for the last month, and will continue to do so.

Liang Haishan, chairman of Qingdao Haier Co., Ltd., added that the alliance of both parties will lead to a great deal of mutual benefit, and also that Qingdao Haier will provide support and employee development opportunities within their global operating platform.

Kentucky SBIR/STTR Matching Funds Attract nanoRANCH Headquarters to Lexington

nanoRANCH, the parent of a loosely knit network of independent nanotech companies, has announced the relocation of its headquarters to Lexington, KY.

nanoRANCH

nanoRANCH (photo – nanotechranch.com)

Supported by $600,000 in Kentucky economic development tax incentives, the company is investing $700,000 for the headquarters relocation project and expects to create 35 new jobs in Kentucky. These will be jobs with an average wage of $26 per hour, including benefits.

According to UHV Technologies Inc. (dba nanoRANCH) President Nalin Kumar, his decision to relocate the company headquarters, assembly and R&D operations and a design lab to Lexington from Fort Worth, TX is in large part due to Kentucky’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds program.

This program provides qualifying companies a match of up to 100 percent of federal SBIR/STTR awards they receive. Even out-of-state companies, such as UHV Technologies, are eligible for funding should they decide to relocate to Kentucky.

UHV Technologies was established 20 years ago in New Jersey and now operates out of Texas, focusing on R&D in advanced nano-materials and devices. The company is federally funded through U.S. Department of Energy grants and contracts.

Kumar said in a release that additional matching funding received through Kentucky’s SBIR/STTR program would help nanoRANCH move proven concepts out of the prototype phase and into production and market-ready products.

The Kentucky Economic Development Finance Authority (KEDFA) has additionally provided preliminary approval for tax incentives of up to $600,000 for nanoRANCH through the Kentucky Business Investment program. The company will also receive resources from the Kentucky Skills Network.

Governor Matt Bevin said in the release that “With its research aimed at improving the quality of life for people across the world, I expect nanoRANCH to flourish in the Commonwealth as it continues its innovative work. They are a great example of the thought leaders that we are actively seeking in Kentucky.”

Lexington Mayor Jim Gray noted that “Lexington’s quality of life and highly educated workforce are attracting good jobs and expanding our technology sector.”

Bob Quick, CCE, president and CEO of Lexington economic development organization Commerce Lexington Inc., added that their team has enjoyed working with this innovative company and appreciate the jobs they are creating in our community.

Apart from the tax incentives for nanoRANCH, the KEDFA Board also approved state assistance for the following projects:
Fritz Winter – The company is investing $193.7 million to establish a new foundry in Franklin, KY that will create up to 265 new jobs, and has been approved for $5.69 million in state incentives.

Quad/Graphics Inc. – The print and media solutions company is undertaking a $2.5 million expansion in Versailles, KY with the creation of 20 new jobs, and has been approved for $400,000 in state tax incentives.

Toyota Tsusho America – The company is undertaking a $25.6 million expansion in Georgetown, KY that will create up to 44 new jobs, and has been approved for $900,000 in state incentives.

Clark Material Handling Co. – The company is investing $4.8 million for relocating certain operations from Mexico to Lexington, and will create as many as 30 new jobs. This project has been approved for $400,000 in state tax incentives.

TransNav Technologies – The company is investing $7 million for an expansion in Danville, KY that will create up to 30 new jobs, and has been approved for $750,000 in state assistance.

Atlas Development Group – The newly formed company is investing $855,000 in Elizabethtown to establish operations in a manufacturing building, and has been approved for $40,000 in tax incentives.

Kentuckiana Curb Co. – The company is investing $3.5 million for an expansion in Louisville, KY, and has been approved for $50,000 in tax incentives.

Hema Biologics – This company is investing $1.1 million for relocating its Louisville operations to a new building, and expects to create 30 new good paying jobs. This project has been approved to receive $700,000 in state tax incentives.

El Toro – This Internet technology company is investing $2.1 million for an expansion of its operations in Louisville, and expects to create 60 good paying jobs. This project has been approved to receive $1 million in state tax incentives.

Kentucky Economic Development Authority Wins The Bond Buyer Deal of the Year Award

The Kentucky Economic Development Authority earned itself a Deal of the Year Award from The Bond Buyer for the tax-exempted bond transaction that financed the construction of a 3,200-plus mile broadband project.

KentuckyWired

KentuckyWired (photo – finance.ky.gov)

Kentucky Finance and Administration Cabinet Secretary Lori H. Flanery accepted the 14th annual Deal of the Year award at an event held at the Waldorf Astoria in New York City.

KentuckyWired is a fiber optic infrastructure to bring high-speed Internet service across the state, which currently ranks at or near the bottom of the country in broadband speeds and availability.

The network will have access points in every county of the state, with nearly 1,100 government facilities connected to the network. Because the network is open access, local internet service providers can tap into the network to deliver last-mile service to homes and businesses.

Governor Steve Beshear said in a release that as the largest public-private partnership in the nation for public technology, KentuckyWired will bring broadband connectivity to every county in the Commonwealth.

“From economic development to education to healthcare and emergency responders – this will be a game-changer. I believe people and businesses will start looking at Kentucky differently and as a location where they can collaborate and compete globally,” added Gov. Beshear.

Kentucky Finance Secretary Lori Flanery added that “We have broken new ground, both literally and figuratively, with this public-private partnership with Macquarie Capital and their consortium partners.”

Nicholas Hann, senior managing director and co-head of North American PPPs at Macquarie, noted that “This innovative, open access network positions Kentucky to provide the best high-speed internet services to homes and businesses while increasing the state’s capacity for long-term economic growth.”

The $232 million KentuckyWired project beat out seven other regional winners that vied for the top award, including:

Midwest Region: Gary/Chicago International Airport Authority, for their $30 million TIF airport development revenue bonds for runway expansion to meet new safety requirements.

Northeast Region: Pennsylvania Economic Development Finance Authority, for a $721.5 million tax-exempt private activity bond issue to repair 4,000 bridges throughout the state.

Southwest Region: North Texas Tollway Authority, for refinancing debt to improve its credit rating related to $3.2 billion in bonds issued during the Great Recession.

Far West Region: The Regents of the University of California, for structuring a $2.85 billion bond deal to take advantage of low-interest rates to reduce overall debt costs.

Small Issuer Financing: El Paso Housing Authority, for issuing $59 million in bonds for a public-private partnership requiring the use of tax credits, private activity bonds and private equity to save aging public housing units from obsolescence.

Non-Traditional Financing: State of Hawaii, for $150 million Green Energy Market Stabilization Bonds for a project to harness the state’s abundant sunshine to produce clean power.

Healthcare Financing: The New York-Presbyterian Hospital, for restructuring its traditional financing to allow the hospital to move in different strategic directions including population health strategies.

Michael Scarchilli, editor in chief of The Bond Buyer, said in the release that nominees this year faced stiff competition from many eminently qualified deals.

“We chose the finalists for innovation, the ability to pull complex transactions together under challenging conditions, the ability to serve as a model for other financings and the public purpose for which a deal’s proceeds were used,” explained Scarchilli.

Ford Announces $1.3B Investment With 2000 New Jobs in Louisville, Kentucky

Ford Motor Company has announced that it will invest $1.3 billion in its Kentucky Truck Plant in Louisville, KY to support the launch of the all-new 2017 Ford F-Series Super Duty truck.

Ford Kentucky Truck Plant

Ford Kentucky Truck Plant (photo – ford.com)

The investment will be used for an all-new body shop, facility upgrades and retooling to build the new aluminum-bodied Super Duty truck at Kentucky Truck Plant.

As a result of this investment and expansion, Ford expects to create 2,000 new jobs at the Kentucky Truck Plant.

This is by far Ford’s largest contribution to Louisville economic development in recent years. Ford announced an $80 million investment last year in Louisville to meet growing customer demand for Super Duty trucks, and another $129 million to support Lincoln MKC production at Louisville Assembly Plant.

The company’s total investment in the city of Louisville and the commonwealth of Kentucky adds up to more than $1.5 billion in the last two years alone.

Ford first began manufacturing vehicles in Kentucky in 1913, at which time the company started off with just 11 employees. The Kentucky Truck Plant, which opened in 1969, now covers six million square feet and provides employment to nearly 4,400 people.

Kentucky Governor Steve Beshear said in a release that this tremendous investment and commitment to new job creation reconfirms the strength of a more than century-long relationship between Kentucky and Ford Motor Company.

“We wholeheartedly appreciate Ford’s continued confidence in the commonwealth’s work force and pro-business environment, and we look forward to expanding our relationship in the future,” added Gov. Beshear.

Joe Hinrichs, Ford president of The Americas, added that “Through this investment, we are continuing to show our commitment to Kentucky and the city of Louisville, as well as bringing to customers industry-leading trucks to help them take care of business and earn a living.”

Jimmy Settles, UAW vice president, National Ford Department, likewise noted that “Adding new jobs and more investment at Kentucky Truck Plant not only secures a solid foundation for our UAW members, but also strengthens the communities in which they live, work and play.”

This new investment and the company’s job creation plans in Louisville are a result of Ford’s recently ratified agreement with United Auto Workers (UAW). As part of the agreement, Ford has committed to investing $9 billion in its U.S. plants and expects to create or secure 8,500 hourly U.S. jobs in communities across Michigan, Illinois, Kentucky, Missouri, New York and Ohio.

Mark Fields, Ford president and chief executive officer, said in a release that “This agreement enables us to further strengthen our business and continue investing in manufacturing in the U.S.”

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