Company opened new headquarters in Louisville earlier this year
FRANKFORT, Ky. (May 27, 2021) – Today, Gov. Andy Beshear announced Wieland North America Inc. plans to create 75 quality job opportunities with a $100 million copper and copper-alloy recycling facility in Shelby County, which could see future growth.
The announcement comes less than four months after Wieland made public its plans to locate its new North American headquarters in Louisville with an $8.8 million investment, a project creating 75 full-time jobs.
“Earlier this year, we welcomed Wieland North America’s new headquarters to the commonwealth, and today I am proud to welcome the company’s first manufacturing facility to our state,” Gov. Beshear said. “Wieland’s rapidly expanding presence in Kentucky exemplifies the type of economic growth and quality job creation we’re working every day to attract for our residents. Team Kentucky is building a better future for everyone in our state, and companies like Wieland will be a vital part of that effort.”
Wieland plans to build its new operation on 79 acres off Isaac Shelby Drive in Shelby County. The plant will melt copper and copper-alloy for recycling for use in manufacturing semi-finished copper and copper-alloy products for customers throughout North America. Work on the project is expected to begin in October and be complete by the end of 2022. The new facility also will position Wieland for future investment and job creation at the site.
“Wieland is excited to announce our latest recycling endeavor in North America. Many thanks to the state of Kentucky and Shelby County for their tremendous display of support,” said Matt Bedingfield, president of Recycling for Wieland North America, and SVP of Global Metal Procurement. “We are thrilled to be a part of this community. As a 200-year-old company highly focused on long-term business sustainability, we intend to make positive impacts here for many years to come. The launch of our new recycling facility provides us with an opportunity to work alongside our current and future suppliers to find new ways to create value together.”
Wieland North America’s announcement is among four economic development projects Gov. Beshear is announcing today. Cumulatively, today’s announcements represent nearly $273 million in investments that will bring 505 well-paying jobs to Whitley, Shelby, Hardin and Fulton counties, furthering the Governor’s commitment to broad economic development in every region of the commonwealth.
Wieland North America manufactures copper and copper-alloy products, including sheet, strip, foil, tube, bar and other fabricated components for its North American customers. The company also rerolls and forms other metals, such as stainless and carbon steel. Additionally, Wieland operates a distribution and processing network consisting of 15 sites nationally. Its products are used in a variety of industries, including building and construction, munitions, automotive, coinage and electronics/electrical components.
Currently, over 230 metals-related facilities operate in Kentucky, employing approximately 25,000 people. Since 2019, 40-plus new-location and expansion projects have been announced in the state’s metals industry, creating nearly $2.5 billion in new investment and 2,000-plus projected new jobs.
Wieland North America joins 80 German-owned facilities currently operating in Kentucky, including manufacturing, service and technology companies, which employ nearly 14,000 people in the commonwealth.
This investment from Wieland North America adds to recent economic momentum in the commonwealth, as the state builds back stronger following the effects of the pandemic.
Last week, Moody’s Analytics published a positive economic outlook for Kentucky, noting mass vaccination as the driving force behind a sustained recovery in consumer services. The state’s recovery, Moody’s said, benefited from earlier reopening efforts and increased demand for manufactured goods over services. The report also found Kentucky’s manufacturing industry outperformed other states since the national downturn last year.
Fitch Ratings earlier this month improved the state’s financial outlook to stable, reflecting the commonwealth’s solid economic recovery. The state’s April sales tax receipts set an all-time monthly record at $486.5 million, as did vehicle usage tax receipts at over $64 million.
In March, Site Selection magazine’s annual Governor’s Cup rankings for 2020 positioned Kentucky atop the South Central region, and third nationally, for qualifying projects per capita. The commonwealth also placed seventh overall in total projects, the highest of any state with a population under 5 million.
Shelby County Judge/Executive Dan Ison said Wieland will play an important part in the community’s continued growth.
“As Shelby County Judge/Executive, I am excited to announce a major industry is joining our Shelby County team,” Judge/Executive Ison said. “Industry plays a major role in the quality of life we are known for. Wieland North America is a business leader that will lead by example as they grow their business.”
Ray Leathers, president and CEO of the Shelby County Industrial & Development Foundation, said the region is fortunate to land such a strong employer.
“Shelby County is extremely fortunate to have attracted such a prominent, international, world-class company as Wieland North America,” Leathers said. “The location will be synergistic to Wieland’s operations and logistics while providing a significant economic impact via strong technology-based employment. Wieland North America exemplifies the finest characteristics of industrial organizations locating in our community.”
Jack Bragg Jr., president and CEO of Shelby Energy Cooperative, welcomed the company to the community.
“Our team is proud to have assisted the community and Cabinet’s efforts in bringing this project to Shelby County,” Bragg said. “We are so excited to welcome our friends at Wieland North America to Shelbyville and into our Shelby Energy Cooperative family.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $6 million in tax incentives based on the company’s current investment, and to accommodate future expansion up to a total $250 million and annual targets of:
- Creation and maintenance of 225 Kentucky-resident, full-time jobs across 15 years; and
- Paying an average hourly wage of $30 including benefits across those jobs.
Additionally, KEDFA approved the company for up to $750,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Wieland can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
For more information on Wieland North America, visit Wieland.com.
A detailed community profile for Shelby County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at www.CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov and LinkedIn.
Read about other key updates, actions and information from Gov. Beshear and his administration at governor.ky.gov, kycovid19.ky.gov and the Governor’s official social media accounts Facebook, Twitter and YouTube.