An auto parts maker broke ground Monday for a new $50 million facility in Calloway County that will create 120 jobs. Governor Matt Bevin was on hand at the event and congratulated leaders of South Korea’s DAE-IL Corporation, the country’s first U.S. plant established in the U.S.
A release says community leaders expect the 295,000 square-foot plant, being built in Murray’s West Industrial Park, to open in May 2019. Employees at the new facility will manufacture autOmotive transmission gears.
DAE-IL Corp., was founded in 1976 and headquartered in Ulsan, South Korea. State officials say it manufactures and sells powertrain parts for automotive, heavy equipment and motorcycles. It’s products include gears, car transmission and engine parts, heavy equipment products — such as transaxles, drive axles and transmission and excavator products — and motorcycle transmission and engine products. The company’s primary export markets include the U.S., China, Europe and Japan.
According to state officials, DAE-IL joins four other South Korean owned companies in Kentucky, which already employ about 400 people. The state’s automotive industry includes 522 facilities employing more than 100,000 people.
Senator Stan Humphries of Cadiz expressed his gratitude for the company’s arrival to Calloway County
Representative Kenny Imes, of Murray, thanked the company and economic developers who made this project happen.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $3 million through the Kentucky Business Investment program. In addition, they approved the company for up to $500,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). They also will receive resources from the Kentucky Skills Network to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
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