FRANKFORT, Ky. (July 12, 2012) – Governor Steve Beshear today announced ZF Rubber & Plastics Hebron LLC will expand its Northern Kentucky manufacturing operation, adding more than 60 new jobs to its current full-time workforce of 206.

The company’s $17.9 million investment will increase the existing Hebron facility by 52,000 square feet and allow for the purchase of new equipment to manufacture bushings, engine mounts, anti-vibration products and plastics components for the automotive industry.

“We’re pleased to see growth here in Northern Kentucky, especially from a company that has been such an important part of this community for nearly two decades,” Gov. Beshear said. “The Commonwealth is proud to partner with ZF, and we will continue to support and welcome the creation of new jobs and millions of dollars in investment for Northern Kentucky.”

ZF Rubber & Plastics Hebron, which began operations in Hebron in 1994, is one of ZF Friedrichshafen AG’s (ZF) 121 global production facilities. German-owned ZF, a leading automotive supplier for driveline and chassis technology with a presence in 27 countries, has nearly 71,500 employees worldwide and is among the world’s top 10 largest automotive suppliers.

“We recently acquired new business that created capacity constraints, which is good news for our company and the community,” said Sam Sato, managing director, ZF Rubber & Plastics Hebron LLC. “The business and government collaboration on this project has been outstanding and contributes to our ability to meet the aggressive timeline for the expansion; construction began in late June and is expected to be completed in the fourth quarter of 2012.”

Kentucky is home to more than 440 automotive-related companies that employ more than 68,000 people. Additionally, Kentucky ranks third highest in auto industry-related employment as a percent of total state employment among the top motor vehicle producing states in the U.S. Kentucky also boasts more than 400 foreign-owned companies representing 30 nations, including Germany, employing nearly 76,000 people.

To encourage the investment and job growth in Northern Kentucky, the Kentucky Economic Development Finance Authority preliminarily approved ZF for tax incentives up to $500,000 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.

“Manufacturing is the heartbeat of industry,” said Sen. John Schickel, of Union. “It’s always good when a company finds such success with their workforce that expansion of that workforce becomes part of the business plan. I congratulate ZF and Hebron.”

“Today’s announcement is great news for the economy of Northern Kentucky as it offers new job opportunities for our talented workforce,” said Rep. Sal Santoro, of Florence. “It is also representative of the great corporate partnership our Commonwealth enjoys with the automotive manufacturing and component industries. I applaud ZF’s leadership for their confidence in the region as a great place to do business.”

“The announced expansion by ZF of its Boone County-Hebron location is tremendous news for Northern Kentucky,” said Boone County Judge-Executive Gary Moore. “The addition of new jobs to ZF’s existing workforce as well as the company’s significant capital investment is affirmation that our area is a great place to do business!”

For more information on ZF Rubber & Plastics Hebron, visit www.zf.com/corporate/en/company/ locations_worldwide/north_america/united-states_locations/united-states.jsp.

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 Northern Kentucky can be viewed at http://www.thinkkentucky.com/edis/cmnty/index.aspx?cw=049.

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.