FRANKFORT, Ky. (May 23, 2012) – Governor Steve Beshear today announced Norgren Inc., a world leading supplier of high performance pneumatic motion and fluid control solutions, plans to re-locate a service operation from Texas to Louisville, creating 22 jobs and investing $1.85 million in the Commonwealth.

“We’re delighted to welcome a global powerhouse like Norgren to the Commonwealth,” Gov. Beshear said. “The advantages Kentucky offers, with our ideal geographic location and global shipping options, allow Norgren to improve serviceability and outreach potential, providing a win-win for the company and Kentucky.”

Norgren, which has been in business for more than 70 years, has 22 manufacturing locations globally and a sales and service network in 75 countries. The company offers sector expertise covering industrial automation, life sciences, energy, rail, commercial vehicles, and food and beverage industries.

“Louisville is a great place for us because of its proximity to our customer base,” said Andy Thompson, Norgren vice president, supply chain and logistics. “This, along with the density of shipping operations, means more than 70 percent of orders will be in transit three days or less. And people in Kentucky really have embraced us and done everything to make this a smooth, successful transition.”

To encourage the investment and job creation in Louisville, the Kentucky Economic Development Finance Authority preliminarily approved Norgren 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.

“I am thrilled that Norgren has chosen to move an existing operation from Texas to Louisville,” said Sen. Gerald A. Neal, of Louisville. “This investment will allow our city to reap the rewards of economic growth, development and new jobs. It also speaks well of our workforce that they have chosen to locate here. I applaud Gov. Beshear for taking the lead to support our industry.”

“It’s great to have Norgren become a member of our Louisville business community,” said Rep. Larry Clark, of Louisville. “The Cabinet for Economic Development’s toolbox of incentives keeps delivering new jobs and investment in Kentucky. Every new job we create matters in this challenging economic environment. The Cabinet and Gov. Beshear should be commended for their smart, aggressive work in identifying companies like Norgren that want to come to Kentucky and for designing incentives that encourage these new investments.”

“Louisville is known for its central location and logistics hub, and Norgren’s move here demonstrates how much those qualities mean to the ability to do business,” said Louisville Mayor Greg Fischer. “Anytime a business can improve efficiency is a good thing, and that they want to do it in Louisville is a great thing. We are delighted to welcome Norgren to Louisville!”

“We are pleased to add Norgren to the ever-growing list of companies who have chosen Louisville because of its natural strength in the value-added logistics cluster,” said Eileen Pickett, executive vice president of Greater Louisville Inc. “Whether by rail or river or air, we are proving that if your business is logistics-centered, Louisville is the place to be.”

For more information on Norgren, visit www.norgren.com.

Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky.

A detailed community profile for Louisville (Jefferson County) can be viewed at http://www.thinkkentucky.com/edis/cmnty/index.aspx?cw=091.

The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2010 totaled more than $2 billion with the creation of nearly 11,900 new jobs. Information on available development sites, workforce training,incentive programs, community profiles, small business development and other resources is available at www.ThinkKentucky.com.