FRANKFORT, Ky. (June, 9 2017) – Thoroughbred Aviation Maintenance Inc., which provides aircraft maintenance, avionics, painting and structural repair, along with overhauling and refurbishment, will open a 15-employee operation at Big Sandy Regional Airport in Martin County, Gov. Matt Bevin announced today.
“We are excited to see this continued growth of Kentucky-based Thoroughbred Aviation Maintenance,” Gov. Bevin said. “This new Martin County facility is further proof that Kentucky offers the qualified workforce and resources needed to support our growing aviation and aerospace industry. We are grateful to Thoroughbred for its commitment to multiple operations around our state and wish the company well in all its future ventures.”
Thoroughbred, headquartered in Georgetown, has purchased a hangar in Martin County to house the new operation. The location will help Thoroughbred service clients and attract new business in Eastern Kentucky, Southeast Ohio, Virginia and West Virginia.
“We at Thoroughbred Aviation Maintenance are excited to bring the first aviation repair service to this region and to establish new employment opportunities for the Eastern Kentucky workforce,” said Todd Case, president of Thoroughbred Aviation Maintenance.
“We realize this region has one of the most talented workforces in the country and will help our business grow.”
Founded in 1988 as Thoroughbred Helicopters, the company sold to RJ Corman Railroad Group in 2005 and was renamed RJ Corman Aircraft Maintenance. In the past several years, it grew steadily, adding services including avionics, aircraft painting, refurbishments and a wide array of parts sales.
In 2016, Case and his business partner, Joe Otte, Thoroughbred’s vice president, acquired the company and reinstated the Thoroughbred name. It currently operates four Kentucky locations: Georgetown, Danville, Somerset and Richmond. Clients include private and corporate general-aviation fixed wing and helicopter customers, primarily in Kentucky, Tennessee and Ohio. Thoroughbred also maintains contracts with flight schools, federal government agencies and law enforcement departments in Kentucky, Ohio, Tennessee, Indiana, Arkansas and Illinois.
Sen. Ray Jones, of Pikeville, said officials are ready to help the company succeed in the region.
“This is welcome news. The investment and commitment to locate an aviation maintenance facility in Martin County will provide much-needed jobs and a boost to the economy. The community is also prepared to assist Thoroughbred and stands ready with a dedicated workforce to meet any labor needs. We look forward to seeing the company grow and prosper.”
Rep. Chris Harris, of Forest Hills, noted the significance of the company’s presence in the region.
“Todd Case is a real asset to Eastern Kentucky and I’m grateful he is making this commitment to bring these new jobs to Martin Count,” Rep. Harris said. “Aviation has tremendous potential in Kentucky and it’s exciting to see new viable ventures like Thoroughbred Aviation taking off in our region.”
Martin County Judge-Executive Kelly Callaham commented on the company’s leadership.
“Thanks to One East Kentucky for their assistance with this project. Thoroughbred Aviation will be of great help to our airport. Todd Case and his team are wonderful people,” Judge-Executive Callaham said.
“The aviation and aerospace industry is a top target for our organization and region. I’m extremely excited that Thoroughbred is our first announcement in this sector to kick off the aggressive recruitment of this industry. We are happy to have partnered with Thoroughbred to secure $88,000 from AEP Kentucky Power’s KEAP Grant program, which was developed to specifically assist economic development projects like this one,” said One East Kentucky President and CEO Chuck Sexton.
For more information on Thoroughbred Aviation Maintenance, visit www.ThoroughbredAviationMaintenance.com.
Aviation and aerospace manufacturing is soaring in Kentucky, and state officials are taking steps to ensure the sky is the limit for the booming industry.
Gov. Matt Bevin, Cabinet for Economic Development Sec. Terry Gill and other state officials recently joined representatives from One East Kentucky, Ashland Alliance and AEP Kentucky Power to attend the 52nd International Paris Air Show in France. Executives from Eastern Kentucky’s recently announced aerospace and automotive aluminum supplier, Braidy Industries, also attended, including Craig Bouchard, the company’s founder and CEO. The group met with industry leaders from around the globe to discuss new business and expansion opportunities in the commonwealth.
The event, first held in 1909, is the world’s largest aerospace event and the premier opportunity for representatives from the industry to pursue business deals, showcase new technology and develop industrial partnerships.
The event included more than 2,300 exhibitors with more than 130 aircraft on display.
“It absolutely exceeded my expectations,” said Chuck Sexton, president and CEO of One East Kentucky. “I knew it was a big show, but it’s still mind-boggling once you get there. It was really a great show, and seeing some of the new things that are coming in the aerospace sector was pretty tremendous as well.”
In Kentucky, aerospace has claimed its place among the primary industries contributing to the growth of the state’s economy, and continues to be the commonwealth’s top export annually. Sec. Gill said the state must take the necessary steps to ensure that growth continues.
“Aerospace has been one of the fastest growing industries in Kentucky for several years now, and it is important we use every opportunity to build upon that success,” Sec. Gill said. “The Paris Air Show provides the greatest opportunity to do just that. The ability to meet in person with aerospace executives from around the world and discuss Kentucky’s many advantages will go a long way toward developing new relationships and strengthening those we have already established.”
The state’s aerospace prowess continues to strengthen with an increased focus on the industry in Eastern Kentucky. An 11-county region encompassed by both One East Kentucky and Ashland Alliance recently earned AEROready™ certification following four-month studies by Common Sense Economic Development and third-party consultant Tucson Atlantic Consulting. The designations, which indicate to potential employers that the area has the necessary workforce and infrastructure in place to support the industry, paved the way for meetings with company executives in Paris to attract new business to the region.
The April announcement of Braidy Industries’ $1.3 billion investment for the construction of an aluminum rolling mill in Greenup County also proved to have an immediate positive impact, as Bouchard assisted the delegation to arrange meetings with prospective companies at the event. Sexton spoke on the opportunities that the air show provides.
“What you end up having is all these company executives available in one area over a four-day period,” he said. “When you have the right strategy, the right team and the right marketing firm, and of course, when you have the governor of your state willing to attend the meetings, you’re able to get face-to-face time with the top-level executives from some of these companies.”
AEROready™ certification serves as evidence that Eastern Kentucky already has the necessary assets to support the aerospace industry, but as Sexton acknowledged, the job of local and state economic development leaders will be to present those assets in a way that will make the commonwealth the first stop in the site selection process.
To do that, Kentucky must continue to attract aerospace suppliers and clients to the area and combine that burgeoning industry presence with the region’s unparalleled workforce and logistical advantages. Eastern Kentucky’s place between two hubs of aerospace manufacturing provides the opportunity to do just that.
“We’re in the center of this new aerospace corridor that’s forming,” Sexton said. “Boeing has been making a lot of investments in South Carolina, and in Ohio – from Wright-Patterson Air Force Base down I-75 into Dayton, Cincinnati and Northern Kentucky – there’s an established corridor of aerospace. Connecting those two corridors is Eastern Kentucky, where we have this concentration of available workforce.”
Since the conclusion of the Paris Air Show, and in the weeks ahead, local and state economic development leaders will remain in contact with prospective companies to encourage further discussion and even site visits. They will have at their disposal evidence of an already strong and rapidly growing aerospace industry.
Kentucky’s aviation and aerospace sector currently employs nearly 17,000 people at nearly 80 manufacturing, service and technology-related facilities. Those include advanced manufacturers of carbon brakes, jet engines and turbines, cockpit avionics, wiring and control systems, micro satellites, software development, data analytics, advanced materials R&D, micro-gravity research services, industry logistics and support services and missile defense system manufacturing and overhauling.
The industry produces more exports than any other in Kentucky, with more than $10.8 billion in products shipped abroad in 2016. Export numbers have remained at a record level thus far in 2017, with $2.9 billion in aerospace products exported in the year’s first quarter, a 9.4-percent increase over the same period a year ago.
For more on the Paris Air Show, visit www.siae.fr/en
To learn more about the aerospace industry in Kentucky, visit www.thinkkentucky.com/aerospace.
WURTLAND, Ky. (April 26, 2017) – Gov. Matt Bevin and executives from Braidy Industries Inc. today announced the company will build a $1.3 billion aluminum mill and create 550 advanced manufacturing jobs in Greenup County to produce sheet and plate for the automotive and aerospace industries.
The announcement marks a turning point in bringing economic vitality to Eastern Kentucky, and comes just two days after the 53rd anniversary of President Lyndon B. Johnson’s 1964 declaration of the “War on Poverty” in Appalachia.
“Braidy Industries’ decision to locate in Eastern Kentucky has the potential to be as significant as any economic deal ever made in the history of Kentucky,” said Gov. Bevin. “This $1.3 billion investment will create enormous opportunity for people in the region, and would not have been possible without our recently passed right-to-work legislation. I look forward to the success of Braidy Industries as they leverage the incredible work ethic found in Eastern Kentucky. The ripple effect of this investment will be significant and will produce positive change in the region for generations to come.”
Braidy Industries will construct a 2.5 million square-foot aluminum mill on more than 300 acres near South Shore in Greenup County. The company expects construction to begin in early 2018 with completion in 2020. Construction will create about 1,000 jobs.
Initially, the facility will produce about 370,000 tons of aluminium per year for the automotive and aerospace industries, with opportunities to expand over time.
The average wage of workers in the new facility will be about $70,000 per year. The company will also provide low-cost healthy meals, a day care, fitness center and other amenities to create an employee-friendly workplace.
Craig Bouchard, Braidy Industries chairman and CEO, said the new plant will both revitalize the region and raise the bar for aluminum production globally.
“Our team recognizes an opportunity to make incredible impacts both in the global aluminum industry and in bringing well-paying jobs to Eastern Kentucky in the heart of Appalachia,” Bouchard said. “The state’s willingness to partner closely with private industry makes this a prime location to found and grow our world-class and cutting-edge rolling mill.”
Bouchard, a seasoned executive with a distinguished track record in banking, software development, aluminum and steel manufacturing, founded Braidy Industries earlier this year. He chose Greenup County for its strengths as a location for metal production as well as to spearhead an economic revival in Eastern Kentucky. Bouchard’s team includes experts in the aluminum industry, metallurgical research, international business and a range of other disciplines.
Dr. Michael E. Porter, professor at Harvard Business School and a global expert on competitiveness and economic development, serves as a Braidy Industries board member. Porter assisted the company in assessing Kentucky’s competitive advantage versus other potential locations.
“Eastern Kentucky has significant competitive advantages, including its proximity to the leading automotive and aerospace customers, low energy costs and a skilled and available workforce for heavy manufacturing,” Porter said. “The decision to locate in Greenup County will provide an opportunity for Braidy Industries and the community to work together to transform the region’s business environment as well as attract related companies.”
Kentucky Cabinet for Economic Development Sec. Terry Gill said the project holds the promise of transforming the region.
“Both in the immediacy and over the coming decades, Braidy Industries’ investment – and the jobs its high-tech mill will create – promise to make a tremendous positive impact on Greenup County and Kentucky’s eastern region,” Sec. Gill said. “In bringing us to today’s announcement, major efforts by local, regional and state partners, including the Legislature’s actions to improve Kentucky’s business climate, proved key. In its entirety, this work helps us deliver the clear message that Kentucky is open for business.”
Matthew J. Satterwhite, president and COO of AEP Kentucky Power, said the company’s presence will set off an economic cascade.
“With this game-changing project in Greenup County, Braidy Industries will positively affect all of Eastern Kentucky, both directly and by attracting other automotive and aerospace-related manufacturers,” Satterwhite said. “I’m enthusiastic about the future of our region and will be working alongside Braidy Industries as an economic development partner to ensure its success. Get ready Eastern Kentucky, Braidy Industries is just the first company moving in for what is the best kept secret in the country – the skilled available workforce in our region.”
Sen. Robin Webb, of Grayson, said the project has been a group effort and comes as welcome news for the community.
“Northeast Kentucky welcomes Braidy Industries to our region where our world-class workforce is ready to contribute to economic progress,” she said. “We have seen decline in coal, river, rail and steel in recent history, but Braidy is poised to be a catalyst in our economic recovery. We appreciate the executive branch and our local partners working with the legislative branch in partnership to make this happen.”
Rep. Danny Bentley, of Russell, expressed gratitude for the company’s decision to locate in Greenup County.
“Kentucky’s business climate is resulting in more manufacturers moving to this commonwealth,” Rep. Bentley said. “Braidy Industries’ $1.3 billion investment in Greenup County will bring 550 much-needed jobs to the area while also boosting Northeastern Kentucky’s economy as a whole. More manufacturing jobs will have a tremendous multiplier effect on our district and we commend Craig Bouchard for having the foresight to recognize the great possibilities our great commonwealth has to offer.”
Greenup County Judge-Executive Robert Carpenter said the project will bring new and long-range opportunities.
“In my 24 years of public services, this is the project I have waited for,” he said. “This project will change the entire region going forward.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in a special meeting today preliminarily approved the company for tax incentives up to $10 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, Braidy Industries can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal 2016, the Kentucky Skills Network provided training for nearly 95,000 Kentuckians and 5,000 companies from a variety of industry sectors.
For more information on Braidy Industries, visit .
A detailed community profile for Greenup and Boyd counties can be viewed at www.thinkkentucky.com/cmnty/QuickFacts.aspx?cw=025
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter.