Thu November 15, 2012
Kentucky #2 in job creation: L’Oréal latest example
Kentucky's job strategy seems to be working. In the last year the state added 47,000 jobs, making it number two in the nation.
With a hard-hat and shovel, Gov. Steve Beshear showed off the latest example of expansion by existing business, the Florence L’Oréal plant.
"You know, creating jobs has been my top priority ever since this recession hit and with this vision and hard work of existing Kentucky companies like L’Oréal we're continuing to succeed in that effort."
Northern Kentucky judge executives say over 80% of new jobs have come from existing industries. Tri-ED Senior Vice President Karen Finan says an overhaul of incentives has helped.
"We lowered some eligibility requirements so we were able to come to the table with a number of incentives that opened the door with a lower salary rate as well as number of jobs required to qualify for the incentives."
Incentives for L’Oréal totaled nearly $6,000,000. The company will double the size of it's facility and hire more than 200 people.
- Will invest more than $42 million in Kentucky
- Will add 211 full-time jobs over the next three years
- Florence plant produces 165 million units of Garnier Fructis, L’Oréal Paris and Soft Sheen-Carson shampoo. conditioner and styling products each year