FRANKFORT Ky. (Jan. 29, 2015) – A Kentucky automotive supplier is growing. Gov. Steve Beshear today announced Lincoln Manufacturing USA LLC (LML) plans to expand its operations in Lincoln County.
LML, a metal stamping manufacturer, is expected to create up to 20 jobs and invest $400,000 into the project.
“Lincoln Manufacturing’s expansion is another positive sign of economic growth in Lincoln County and another feather in the cap of Kentucky’s thriving automotive industry,” said Gov. Beshear. “I commend the workers, company officials and local leaders on their continued success.”
Due to steady growth over the past several years and plans to create new products, LML expects to hire more workers to keep pace with demand. The new workers, who are already being hired, will allow the company to start a third shift at its facility on Industrial Park Drive in Stanford.
“Our latest expansion is a big move for Lincoln Manufacturing,” said Masato Sugimura, president and owner of LML. “There will be some additions of equipment, but mainly we will be focused on the hiring and training qualified people. The proper training of our new hires is an absolute necessity in order to maintain the quality and service, which are main objectives to Lincoln Manufacturing and our customers. LML is very appreciative of the support that we always receive during our expansions. Our local government officials and economic development organizations in Stanford and Lincoln County have always supported LML in our efforts to grow our company and workforce.”
LML manufactures and stamps parts for the automotive industry and is a supplier to some of the world’s largest manufacturers. The company, which currently has more than 100 employees, began as a joint venture with Japan-based Toshin Company in 1995. In 2002, Lincoln separated from its Japanese parent company and is now solely owned by Sugimura.
The Commonwealth continues to be a key player in the international automotive industry. Kentucky’s 465 motor vehicle-related establishments employ nearly 85,000 people. Over the last five years, 335 motor vehicle-related projects have been announced in the state, representing nearly 20,000 new jobs and more than $4.5 billion in new investment.
“I am excited to see our state and southern Kentucky receive new jobs and economic investment,” said Sen. Chris Girdler, of Somerset. “I hope we, as a people, can continue to make Kentucky an even more attractive location for industry and businesses so that everyone's boat can rise with new opportunities.”
“It is always exciting when an existing business decides to expand operations, and I’m pleased that Lincoln Manufacturing will grow its manufacturing center in Lincoln County,” said Rep. David Meade, of Stanford. “Their decision is a reflection not only of the growing auto manufacturing industry in Kentucky, but also of the outstanding business climate and quality workforce we offer to new and existing businesses.”
“I want to thank Lincoln Manufacturing for continuing to support our community by investing in this expansion project,” said Stanford Mayor Eddie Carter. “LML is an excellent business partner that provides stable employment opportunities to our citizens. We are very fortunate to have LML in Stanford and Lincoln County.”
“Our county is very fortunate to have a company like Lincoln Manufacturing, which started as a small supplier in a 14,000-square-foot building with 12 employees,” said Lincoln County Judge-Executive Jim Adams Jr. “Now, the company has over 100 employees and is operating in a 67,000 square-foot-facility. I want to thank Mr. Sugimura for operating this company, which is symbolic of the entrepreneurial spirit of Lincoln County.”
To encourage the investment and job growth in Stanford, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $225,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
A detailed community profile for Stanford (Lincoln 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.