Worldcolor Expands in Kentucky
Gov. Steve Beshear and officials in Simpson County, KY have announced the expansion of Worldcolorâ€™s facility in Franklin, Ky.Â The Franklin expansion will create 135 new full-time jobs and entail a capital investment of more than $9.7 million in the Commonwealth.
â€śIâ€™m delighted that Worldcolor has chosen to make such a significant investment in its Franklin plant, creating 135 new jobs,â€ť said Gov. Beshear.Â â€śThe vitality of our existing industries is essential to the recovery and growth of our stateâ€™s economy.Â Worldcolorâ€™s expansion is a positive sign that we are moving in the right direction.â€ť
Worldcolor is one of the worldâ€™s largest printers of magazines, catalogs, newspaper inserts, books, directories and direct mail products.Â The company, which currently employs approximately 425 people at its 460,000 square-foot Franklin facility, is planning to expand by another 105,000 square feet.Â Worldcolor will add binding machines and upgrade selected presses to position the site for a significant increase in customer print volume to service magazine and catalog customers.
â€śWe are very pleased to make this significant investment in our Franklin facility to serve our magazine and catalog customers,â€ť said Brian Freschi, president of Worldcolor North America. â€śThe addition of the new binding equipment and enhanced presses will provide our customers with the latest technology and will be operated by proven and experienced print professionals.â€ť
The Kentucky Economic Development Finance Authority preliminarily approved Worldcolor for tax incentives up to $1,950,000 through the Kentucky Business Investment program.Â The incentive can be earned over a 10-year period through corporate income tax credits and wage assessments.
â€śThis is an important opportunity to solidify Worldcolor’s presence in our community,â€ť said Simpson County Judge Executive Jim Henderson.Â â€śIt is exciting to see such a large investment in this company’s future.â€ť
â€śWorldcolor’s expansion amid these challenging times reflects the soundness of their business approach, the dedication of their local Simpson County workforce and a vibrant economic development effort in Simpson County,â€ť said Sen. David Givens, of Greensburg. â€śI particularly applaud current Worldcolor employees, who through dedication and effort, have proven the Simpson County facility worthy of expansion.â€ť
â€śIt is good to know companies like Worldcolor are willing to make further investments in strong communities like ours even during trying economic conditions,â€ť said Representative Wilson Stone, of Scottsville.Â â€śI want to thank Worldcolor for investing in our community and I look forward to their future in Simpson County.Â I would also like to thank Governor Beshear and the Kentucky Economic Development Cabinet for working with Worldcolor and providing the incentives that will allow this expansion to take place.â€ť
â€śThe 135 jobs that Worldcolor is creating with this expansion will have a profound effect on the economy of our city,â€ť said Franklin Mayor Herbert Williams. â€śFranklin is very fortunate to have this outstanding industry as a part of our community.â€ť