FRANKFORT, Ky. (June 28, 2018) – Gov. Matt Bevin today congratulated LBX Co. LLC, the maker of Link-Belt excavators, material handlers and forestry equipment, on starting construction on its $10 million-plus customer experience and training center in Lexington to supplement its current headquarters.
“LBX has grown tremendously since it began in Lexington 20 years ago, and this latest investment underscores the company’s commitment to Kentucky,” Gov. Bevin said. “Equipping companies with a skilled workforce is something that our administration has taken very seriously. When a company prioritizes internal training efforts, such as LBX has with this investment, it makes that goal all the more attainable. Congratulations to LBX and the Lexington community on the continued growth of this remarkable locally based company.”
The new facility on 25 acres on Remington Way in the Citation Business Park will be dedicated to customer experience programs, including dealer training, product demonstrations and customer events. It will also house the company’s engineering staff and training operations for current and new employees. Additionally, plans include space to test new machine designs, concepts and features. LBX executives plan to complete the project by March 2019. The facility will be the company’s second in Lexington as LBX leaders plan to maintain their current headquarters and distribution center on Buck Lane.
“The LBX Customer Experience Center is the next logical step to serving our dealers and customers better,” said Eric Sauvage, president and CEO, LBX Company LLC. “We look forward to welcoming guests to the facility. It’s an exciting and important next step to prepare LBX for future growth.”
Link-Belt began manufacturing excavators in Lexington in 1975, at that time in tandem with the company’s crane manufacturing operations. Link-Belt spun off LBX in 1998 as an independent company. Since then, LBX has grown from 15 employees to nearly 100. Both LBX and Link-Belt are subsidiaries of Sumitomo Construction Machinery, based in Chiba, Japan. LBX distributes its products through a network of 59 independent dealers across 137 locations.
Sen. Ralph Alvarado, of Winchester, said the growth of LBX is thanks, in part, to the community’s increased focus on economic development.
“LBX’s expansion in Lexington is a testament to the fact that Kentucky is setting the tone for growth and job creation,” Sen. Alvarado said. “It is good to know that our community is contributing to LBX’s success as it is paying dividends to our economic achievements throughout this region.”
Rep. George Brown, Jr, of Lexington, said LBX is a model for success.
“I want to congratulate LBX as it continues to invest further in Lexington and become an even bigger part of our corporate community,” Rep. Brown said. “LBX, as well as Link-Belt, its former parent company, are textbook examples of how to turn an idea into a business model that spans decades. I’m confident we’ll see further expansion announcements down the road.”
Lexington Mayor Jim Gray said the new LBX facility underscores the city’s attractiveness for business.
“LBX Company’s strong presence in Lexington over the last 20 years shows that Lexington is a great place to start and grow a business.” said Mayor Jim Gray. “Now, with this new multi-million dollar investment in its Customer Experience Center, we feel confident that LBX Company will be around for a long, long time and will be an even stronger partner for our citizens and our city.”
Bob Quick, president and CEO of Commerce Lexington Inc., welcomed the company’s additional commitment to the city.
“LBX Company is a strong global brand and a great example of foreign direct investment in Lexington,” Quick said. “Commerce Lexington Inc. is proud to celebrate the groundbreaking of LBX’s new Customer Experience Center. Congratulations to LBX, a groundbreaking company, on this great addition to their thriving headquarters in Lexington.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in March approved the company for up to $70,000 in performance-based tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
In addition, LBX 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. In fiscal 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
For more information on LBX, visit www.LBXCo.com.
A detailed community profile for Fayette County can be viewed here.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2017 totaled a state record $9.2 billion, spurring more than 17,200 projected new jobs. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.