Post Glover Resistors Inc., a producer of power resistors, will expand its product offerings with a nearly $4.63 million investment in its Boone County facility that will create up to 15 full-time jobs.
“Post Glover Resistors has enjoyed more than 125 years of success, and the company shows no sign of slowing down as it continues to supply our evolving rail industry,” Gov. Matt Bevin said. “This is an exciting new opportunity for Post Glover, as well as for Kentucky, and we thank the company for its commitment to our state.”
Post Glover plans to expand its facility at 1369 Cox Ave by 30,600 square feet, near Erlanger, in an effort to support growth tied to existing large-scale customer contracts.
“Post Glover is excited to continue our growth in Northern Kentucky,” said Richard Field, president of the company. “The region has been a great home for 125 years. We look forward to bringing more customers to Kentucky to introduce them to this great place.”
The expanded capacity would include the supply of fans for the subway and locomotive markets throughout the United States, including support of upgrades from the New York City Transit Authority subway system. The company also would produce resistors and blowers for the new Amtrak Acela Liberty high-speed train.
Sen. John Schickel, R-Union, noted Kentucky’s pro-business policies as a driver of economic growth.
“This expansion is great news for Northern Kentucky,” Schickel said. “The continued investment in our region is a prime example of the sustained economic growth our state has seen as a direct result of laws passed by the General Assembly. I would like to thank those involved for continuing to choose Erlanger to conduct their business.”
Founded in 1892, Post Glover began as a distributor to the railroad industry. The company offers high- and low-resistance grounding products for equipment and personnel protection, dynamic braking resistors, motor/crane control resistors and harmonic filter resistors for electrical noise dampening. The company currently employs more than 100 people at its lone facility in Boone County.
Lee Crume, president and CEO of Northern Kentucky Tri-ED, said the region’s advantages speak for themselves in attracting business growth.
“Northern Kentucky Tri-ED is focused on serving our existing businesses and facilitating their growth in the region,” Crume said. “Post Glover’s expansion in our region is a testament to Northern Kentucky’s strong technical workforce and ideal location for companies that make products here and export them around the world. We thank the company for continuing to invest and create jobs in our region.”
Crume
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program.
The performance-based agreement can provide up to $90,000 in tax incentives based on the company’s investment of $4.63 million and annual targets of:
• Creation and maintenance of 15 Kentucky-resident, full-time jobs across 10 years
• Paying an average hourly wage of $19 including benefits across those jobs
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
Additionally, KEDFA approved Post Glover for up to $90,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
For more information on Post Glover Resistors, click here. www.PostGlover.com
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