The facilities that are being relocated principally produced data communications cables, including specialty and fiber products
November 16, 2015
General Cable Industries Inc. is investing USD 2.5 million to expand and relocate production to Lawrenceburg, Kentucky. The company plans to create more than 54 jobs. In May, General Cable announced the closing and relocation of its manufacturing facilities in Franklin, Massachusetts, and Des Plaines, Illinois. On November 16, the company announced that these operations will be consolidated into its existing facility in Lawrenceburg. The facilities that are being relocated principally produced data communications cables, including specialty and fiber products. The company estimates that it will be transferring around half of the production volume and manufacturing assets to the Lawrenceburg facility.
“Industry trends sometimes require us to consolidate operations in order to successfully compete in the market,” said Paul Furtado, Vice President and Manufacturing Team Leader, communication and assemblies plants. “While that’s a difficult situation, we are pleased that the Lawrenceburg team is ready and able to take on additional product lines.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to USD 700,000 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.
