Business and the Economy
NKY Industrial Expansion Provides Jobs
Community leaders and company officials from ZF Steering Systems LLC Wednesday celebrated the completion of its $95.8 million expansion in Northern Kentucky. The project entailed the construction of two new buildings totaling 175,000 square feet on its existing site and is creating 374 new full-time jobs over the next two years.
ZF Steering Systems is a subsidiary of Germany-based ZF Lenksysteme GmbH and has been located in Kentucky since 1994. The company manufactures steering components for passenger cars and SUVs. The company added capacity to meet demand for its new electric steering gear.
“ZF is excited to announce the completion of our expansion to the Florence plant, which was driven by increasing interest in a product that helps save fuel,” Pierre Abboud, president, ZF Steering Systems, said in a press release from the governor's office.
An incentive package was preliminarily approved by the Kentucky Economic Development Finance Authority to encourage the near $100 million investment in Kentucky.
ZF Steering’s expansion was one of Kentucky’s largest job-creation and investment projects announced in 2010.