Berea, Ky. - Hitachi Automotive Systems Americas Inc. will bring 130 new jobs in advanced manufacturing to Central Kentucky. Hitachi has selected Berea as the site for a new plant that will produce electric drive motors for hybrid and electric vehicles. The facility entails an investment of more than $74.5 million.
Hitachi has purchased a 151,000 square-foot facility on 65 acres in Berea for its latest project.
The plant, which used to produce electrical products, will be totally retooled and will now manufacture motors that will power advanced hybrid electric powered automobiles, including the Chevy Volt. Additionally, Hitachi's future plans include the production of other hybrid vehicle products like lithium-ion batteries and electric inverters to be manufactured in its Kentucky plants.
Hitachi, which has an existing operation in Berea, expanded its Harrodsburg plant in the fall of 2009, a $68 million investment that brought 145 new jobs to Harrodsburg.
Operations at the new plant in Berea are expected to begin in late 2011, with plans to ship the first electric motors from the factory in mid-2012.
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Hitachi for tax incentives up to $4 million through the Kentucky Business Investment program.
The performance-based incentive allows the 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.
KEDFA also approved Hitachi for tax benefits up to $100,680 through the Kentucky Enterprise Investment Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment. An Economic Development Bond grant in the amount of $500,000 was also approved for the city of Berea for the benefit of the Hitachi project.
For more information on Hitachi Automotive Systems Americas, visit www.hitachi-automotive.us.