One of Cincinnati's Largest Manufacturers Plans Expansion
One of the largest manufacturers in Greater Cincinnati is planning a more than $84.5 million expansion.
Robert Bosch Automotive Steering LLC, a subsidiary of Germany-based Robert Bosch Automotive Steering Gmbh, is considering an expansion to its facility in Florence, according to a report released by the Kentucky Economic Development Finance Authority. The total investment on the expansion and equipment would be more than $84.5 million and the expansion would create 212 jobs.
The Florence facility, located at 15 Spiral Drive, was a Bosch-ZF Steering Systems LLC joint venture until Bosch bought out ZF in January.
Since becoming Robert Bosch Automotive Steering, the company has experienced “significant growth” from original equipment manufacturer customers, according to the KEDFA document. Robert Bosch Automotive Steering produces steering components and systems in three separate buildings in Florence and has about 1,300 employees in Northern Kentucky.
Robert Bosch Automotive Steering is the 15th-largest employer in Northern Kentucky. The company also is the seventh-largest manufacturer in the region, according to Business Courier research.
Under the proposed project, Bosch would spend $3 million on building/improvements and more than $81.5 million on equipment. The company would add 212 jobs, paying an average hourly wage, including benefits, of $27.
A special condition of the incentive would require Bosch to maintain a base employment equal to the number of full-time Kentucky resident employees as of the date of preliminary approval. The company reported 931 full-time, Kentucky resident employees as of the application date.
Dan Tobergte, president and CEO of president and CEO of Northern Kentucky Tri-County Economic Development Corp., the primary economic development marketing agency for Boone, Kenton and Campbell counties, confirmed that Tri-ED is working with Bosch on the potential expansion.
“We’re pleased and hopeful,” Tobergte said. “This is one step along the way.”
Bosch’s proposed project received preliminary approval for $7 million over 10 years from the Kentucky Business Incentive program for equipment and building/improvements.
This article originally appeared on Cincinnati Business Courier.