Shepherdsville, Kentucky -- Magna Seating has opened a 139 500-sq-ft (12 900 sq.m) facility in Bullitt County, Kentucky. The nearly $20 million investment is expected to create up to 450 new jobs within the next few years, according to a news release from Kentucky Governor Steve Beshear.
Magna Seating, an operating unit of Magna International, develops and manufactures automotive seating systems, including seat structure and mechanisms, as well as polyurethane foam and trim products for the global automotive industry. The company will manufacture seating and seating components to support the 2013 Ford Escape programme at Ford's Louisville, Kentucky, Assembly Plant.
At full employment, Magna Seating's presence is expected to have an estimated economic impact of $90.6 million on the state's GDP, while spurring 742 additional indirect and induced jobs in the state, the announcement said.
The Kentucky Economic Development Finance Authority amended the preliminarily approval of tax incentives for Magna Seating to encourage increased investment and job creation in Bullitt County. The company is now eligible for up to $8.5 million through the Kentucky Business Investment program.