FRANKLIN – Community leaders and officials from Premium Services LLC and Worldwide Technologies in Simpson County announced Monday that the two companies will add a total of 50 new jobs in Franklin. Premium Services has chosen Simpson County as the site of its new manufacturing facility, while Worldwide Technologies will expand its existing operations there. The companies will invest a combined $1.6 million in these projects.
Premium Services grinds, welds and reworks products for customers in a wide range of fields, including the automotive industry. The company, which also has a facility in Glasgow, will acquire a 14,000-square-foot facility located at 1871 Industrial Bypass North for its newest manufacturing plant. The company will invest $655,000 and create 25 new jobs.
Worldwide Technologies, established in 2006, is a machine shop tool and die facility that performs machining operations for customers in several states. Products include brake and axle components, automotive cylinder heads, and extensive machine and repair services. The company will add 7,500 square feet to its existing 27,000-square-foot facility, investing $978,000. Additionally, Worldwide Technologies will add 25 new jobs to its existing employment base of 58.
“During times of financial crisis and the substantial shortage of jobs in America, we as employers have to be proactive and take any opportunity to help stimulate the market and stabilize our economy,” Michael Jones, co-owner of Worldwide Technologies and Premium Services, said. “My partner and I feel that there is no better time than the present to take the first step in rebuilding that economy by expanding our businesses. We want to be a leader and an example for other small businesses in our community and state to take that leap of faith.”
The Kentucky Economic Development Finance Authority preliminarily approved Premium Services and Worldwide Technologies for tax incentives up to $350,000 each through the Kentucky Business Investment program.