Tristate Valves & Controls Inc. (TRIVACO) opened a new facility in Boone County. The company will create 45 jobs that pay an average of $45 an hour as a result of the company's $3.1 million investment.
TRIVACO opens new facility, creates 45 jobsStaff writer ▼ Monday December 16, 2013 10:02AM ET
"I am delighted to celebrate the opening of TRIVACO, a leading provider of engineered products and solutions for the region. This investment not only adds 45 high-paying jobs for the citizens of Boone County and surrounding region, but it also demonstrates TRIVACO's confidence in Kentucky's quality workforce and business climate. I extend my congratulations to all who made this vision a reality," said Kentucky Governor Steve Beshear.
TRIVACO distributes and services specialty valves, actuators, actuation controls, valve monitoring instrumentation and equipment from leading manufacturers. The 40,000-square-foot facility, which contains a high-tech manufacturing facility and office space, is located in Hebron's Riverview Business Park off I-275. It will be home to more than 60 current TRIVACO employees and will create about 45 new engineering, customer service and sales jobs in the next few years.
"TRIVACO has experienced significant growth over the last decade. The move to Kentucky will enable us to continue this growth pattern and puts us in a position to best serve our existing customer base while also giving us the flexibility to explore other markets and opportunities," said Benjie Pieper, president of TRIVACO.
The building was constructed with recycled, local materials to make the project environmentally friendly. The location will also allow TRIVACO to expand in the future.
To encourage the investment and job creation in Boone County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $350,000 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. ■