Russell County, and an Ohio town, are the final two communities under consideration by a Germany based automotive company for locating a factory that would employ up to 275 persons. The field of possible plant sites began with more than 60 locations.
Several steps were taken Thursday, at both the local and state level, in efforts of landing the new factory in the Industrial Park in the Middletown community.
Thursday morning, the Russell County Fiscal Court approved financial incentives that would allow “Dr. Schneider Automotive Systems Incorporated” to pay its payroll taxes directly to the Russell County Industrial Development Authority during its 3rd-6th years of operation. Doing so would reduce the burden of a “property & facility lease agreement” which is still under negotiation. The Russell Springs City Council also approved similar incentives.
Also Thursday in Frankfort, The Kentucky Economic Development Finance Authority gave preliminary approval for tax incentives of some $4 million contingent on the automotive parts company locating in Russell Springs. The company says it will invest just over $29 million.
When a final location is selected and the company begins its operations it will produce vent and trim systems for several makes of cars including Ford, BMW and Mercedes.
Officials have said the company will employ between 170 to 175 workers within its first two years with a commitment to expand to 275 workers within five years. The average hourly rate of pay would be $15.