A Korean automotive parts maker is investing 50 million dollars to build a new facility in Murray, creating 120 full-time jobs.
DAE-IL Corporation (DIC) will construct a 295,000-square-foot facility in the Murray West Industrial Park. Governor Matt Bevin announced Thursday that the new facility will be the company’s first manufacturing operation in the United States.
The new location will operate under the name DAE-IL USA and produce gears for the automotive industry. Construction is expected to begin this month and will be complete the end of 2018. DIC President Johnny Kim said Murray “met and exceeded” all of the company’s needs.
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $3 million through the Kentucky Business Investment program. The incentive allows a company meeting job and investment targets to keep a portion of its investment through corporate income tax credits and wage assessments. KEDFA also approved DIC for up to $500,000 in tax incentives through the Kentucky Enterprise Initiative Act.
DIC is eligible for resources from the Kentucky Skills Network such as no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
DIC is headquartered in South Korea. The company’s primary export markets include the US, China, Europe and Japan.