FRANKFORT, Ky. (June 28, 2012) – Governor Steve Beshear today announced Modern Transmission Development (MTD) will expand manufacturing at its Leitchfield facility. The company’s growth plans will create 61 full-time jobs and a capital investment of more than $3.7 million.

“We’re thrilled to see the success and growth of Modern Transmission Development in Kentucky, which will result in dozens of new jobs for the Grayson County community,” Gov. Beshear said. “The company has a key phrase — ‘the past we inherit, the future we create.’ This phrase demonstrates exactly the type of innovative spirit we strive to achieve here in the Commonwealth.”

Founded more than 50 years ago, MTD manufactures a complete range of products to suit every type of lawn and garden need. As part of its multi-million dollar investment, MTD will purchase, relocate and install injection molding equipment for its Leitchfield facility, which currently employs 249 full-time Kentucky workers.

“Since opening our Leitchfield facility in 1995, MTD has experienced great success in working with the community and the Commonwealth,” said MTD General Manager Derek Clemons. “Kentucky, Grayson County and the city of Leitchfield continue to show great support to MTD, which, along with a great workforce, allows MTD to continue to invest in this community and its people. We look forward to this partnership continuing for years to come.”

To encourage the investment and job growth in Leitchfield, the Kentucky Economic Development Finance Authority preliminarily approved MTD for tax incentives up to $1.25 million 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.

“It’s a true testament to our work ethic and quality of life when companies invest money and create jobs here,” said Sen. Carroll Gibson, of Leitchfield. “I welcome and congratulate MTD.”

“Modern Transmission Development’s decision to expand in Kentucky is a testament to the high-quality workforce and business climate we offer in the Commonwealth,” said Rep. C.B. Embry, of Morgantown. “We’re glad to have the company in Grayson County, and look forward to a fruitful economic relationship as they provide new jobs to our communities.”

“The city of Leitchfield is deeply honored by the role MTD has played in our community,” said Leitchfield Mayor William H. Thomason. “Once again, MTD is showing their strong commitment to our workforce and our city by expanding their current operations here. The investment that MTD is making is an investment in our people, our families and our community.”

“The Grayson County Fiscal Court and I are proud of MTD and the Moll family's commitment to industrial development in Grayson County,” said Grayson County Judge-Executive Gary Logsdon. “Derek Clemons’ leadership has also played a key part in the success of this company. The collaboration between the individuals involved has allowed for excellent recruitment and expansion within this professional workforce. We look forward to continuing to assist in future developments with MTD.”

For more information on MTD, visit www.mtdproducts.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 Leitchfield (Graysonn County) can be viewed at http://www.thinkkentucky.com/edis/cmnty/index.aspx?cw=010.

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.