Business and the Economy
Kentucky's Automotive Industry Rolls Along
Although concerns linger about the economy, Kentucky’s automotive industry appears to be flying above the fray. Mandy Lambert with the state’s economic development cabinet says the more than 400 businesses which comprise the automotive sector were hurt in the recession. But, she says a rebound continues at the assembly plants and parts factories. “With all of our major auto assembly plants, they’re all in the process of making major investments in their plants, which not only creates jobs at those plants, but also overflows to the supplier network,” said Lambert.
Toyota spokesman Rick Hesterberg says their production is up 92 percent over last year, but he expects a ‘leveling off’ later this year. Georgetown company officials also look forward to October’s launch of a redesigned Avalon. As for the suppliers of automotive parts, Nisshin in Versailles last week announced a seven million dollar expansion. The automotive tubing firm will purchase new equipment and expand its facility.