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One of Our Latest Industry Happenings! |
WorldColor to Create 135
Jobs In Franklin
(April 18, 2010) Franklin, Kentucky [from the Franklin Favorite]
Gov. Steve Beshear joined Worldcolor and community officials in
Simpson County Tuesday to announce the expansion of Worldcolor’s
facility in Franklin, Ky.
The Franklin expansion will create 135 new full-time jobs and entail a
capital investment of more than $9.7 million in the Commonwealth.
“I’m delighted that Worldcolor has chosen to make such a significant
investment in its Franklin plant, creating 135 new jobs,” said Beshear.
“The vitality of our existing industries is essential to the recovery
and growth of our state’s economy. Worldcolor’s expansion is a
positive sign that we are moving in the right direction.”
Worldcolor is one of the world’s largest printers of magazines,
catalogs, newspaper inserts, books, directories and direct mail
products.
The company, which currently employs approximately 425 people at its
460,000 square-foot Franklin facility, is planning to expand by
another 105,000 square feet.
Worldcolor will add binding machines and upgrade selected presses to
position the site for a significant increase in customer print volume
to service magazine and catalog customers.
“We are very pleased to make this significant investment in our
Franklin facility to serve our magazine and catalog customers,” said
Brian Freschi, president of Worldcolor North America. “The addition of
the new binding equipment and enhanced presses will provide our
customers with the latest technology and will be operated by proven
and experienced print professionals.”
The Kentucky Economic Development Finance Authority preliminarily
approved Worldcolor for tax incentives up to $1,950,000 through the
Kentucky Business Investment program.
The incentive can be earned over a 10-year period through corporate
income tax credits and wage assessments.
“This is an important opportunity to solidify Worldcolor’s presence in
our community,” said Simpson County Judge-Executive Jim Henderson. “It
is exciting to see such a large investment in this company’s future.”
“Worldcolor’s expansion amid these challenging times reflects the
soundness of their business approach, the dedication of their local
Simpson County workforce and a vibrant economic development effort in
Simpson County,” said Sen. David Givens, of Greensburg. “I
particularly applaud current Worldcolor employees, who through
dedication and effort, have proven the Simpson County facility worthy
of expansion.”
“It is good to know companies like Worldcolor are willing to make
further investments in strong communities like ours even during trying
economic conditions,” said Rep. Wilson Stone, of Scottsville. “I want
to thank Worldcolor for investing in our community and I look forward
to their future in Simpson County. I would also like to thank Gov.
Beshear and the Kentucky Economic Development Cabinet for working with
Worldcolor and providing the incentives that will allow this expansion
to take place.”
“The 135 jobs that Worldcolor is creating with this expansion will
have a profound effect on the economy of our city,” said Franklin
Mayor Herbert Williams. “Franklin is very fortunate to have this
outstanding industry as a part of our community.” |