The facilities that are being relocated principally produced data communications cables
November 20, 2015
General Cable Industries Inc. is relocating operations to Lawrenceburg, KY as part of a consolidation project. One of the world’s largest wire and cable manufacturers, the company expects to create more than 54 positions and invest more than USD 2.5 million into the expansion project.
In May, General Cable announced the closing and relocation of its manufacturing facilities in Franklin, MA, and Des Plaines, IL. The company recently announced that these operations will be consolidated into its existing facility in Lawrenceburg, KY. 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.
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 $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.
In addition, General Cable is eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.
