LOUISVILLE, Ky. — Wieland North America Inc., a producer of copper and copper alloy products, is planning to locate its new North American headquarters in Louisville, bringing an $8.8 million investment and 75 jobs with it.
What You Need To Know
- Wieland North America Inc., a producer of copper and copper alloy products, is planning to locate its new North American headquarters in Louisville
- $8.8 million investment to create 75 high-paying jobs
- The new headquarters will be located on Olympia Park Plaza near the intersection of I-71 and the Gene Snyder
- Company leaders expect the office to be fully open by the end of Q1 2021
“As we build toward a better future for Kentucky, creating well-paying jobs for our residents, families and communities is key,” Gov. Andy Beshear said. “Wieland’s new North American headquarters will certainly add new momentum to that initiative and help make the state economically stronger than ever. I want to thank Wieland’s leadership for selecting Kentucky for continued growth, and I look forward to helping the company succeed and increase its footprint in the commonwealth for years to come.”
The new headquarters will be located on Olympia Park Plaza near the intersection of I-71 and the Gene Snyder. It will also house Wieland Rolled Products North America LLC, formerly Olin Brass, which was acquired in July 2019. Both are subsidiaries of Ulm, Germany-based Wieland-Werke AG.
The new office will lease one floor of Olympia Park Plaza and provide nearly 30,000 square feet of space. The office will house personnel, including Wieland North America’s leadership, financial, legal, human resources, sales and marketing, and supply chain teams. Company leaders expect the office to be fully open by the end of Q1 2021.
“Wieland has a rich heritage – developed over 200 years with thoughtful decision-making, courage and entrepreneurship,” said Wieland North America Chief Financial Officer Matt Bedingfield. “Today, we focus on sustainability – laying the foundation for the next 200 years. The success of our company is based on the dedication and expertise of our people. We want to create a functional, innovative and welcoming workplace where our employees will thrive. We are excited to do this work in Louisville and look forward to expanding our story and footprint here.”
Wieland North America's products include sheet, strip, foil, tube, and other fabricated components for North American customers. The company also rerolls and forms other metals, like stainless and carbon steel.
Louisville Mayor Greg Fischer welcomed the company's news.
“With plans to nearly triple its local workforce and locate its North American headquarters in Louisville, Wieland is proof of the strength of our city’s manufacturing sector even through the COVID-19 pandemic,” Fischer said. “We are happy to support this project, which will bring new high-wage, senior-level positions to our city.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 10-year incentive agreement with Wieland North America under the Kentucky Business Investment program. The agreement can provide up to $3 million in tax incentives based on the company's investment of $8.8 million, including rent and improvements, and annual targets which include:
- Creating and maintaining 75 Kentucky-resident, full-time jobs over 10 years; and
- Paying an average hourly wage of $93, including variable compensation and benefits.
Eligible positions will range from $26 per hour to over the average hourly rate in some cases.
The company can be eligible to keep a portion of the new tax revenue it generates by meeting the annual targets. The company may claim eligible incentives against its income tax liability and/or wage assessments.
Wieland North America can also receive resources from the Kentucky Skills Network which allows companies to receive no-cost recruitment and job placement services, reduced-cost customized training, and job training incentives.