Locomotive export demand is bringing 25 full-time jobs to Paducah, along with an almost $1 million investment.
State officials announced Tuesday that VMV Paducahbilt will expand in Paducah. It plans to add shop equipment, upgrade phone and computer systems, and make building repairs at its 1300 Kentucky Ave. site. The locomotive re-manufacturing company employs 144 full-time workers.
“We’re thrilled to partner with the Commonwealth to continue building on the success here at VMV Paducahbilt,” Bob Pedersen, vice president and general manager of VMV Paducahbilt, said through a written statement. “This announcement represents a lot of hard work from many sources, especially the people of VMV Paducahbilt, who take pride in the performance and quality of our products, and the fact that we are exporting to countries all over the world.”
Pederson told The Paducah Sun in July the company would seek welders, pipefitters, machinists and painters to fill the 25 positions. Pederson said the growth was because of export demands. VMV Paducahbilt provides new and re-manufactured locomotives, locomotive products, and wheel services.
Tax incentives up to $500,000 have been approved through the Kentucky Business Investment program.
The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
“We are pleased to have VMV Paducahbilt announce an expansion of their business with 25 new jobs and $920,000 of investment in Kentucky,” Mayor Gayle Kaler said. “We are especially glad to know that VMV has confidence in Paducah and our work force.”
Call Jody Norwood, a Paducah Sun staff writer, at 270-575-8658 or follow @jgnorwood on Twitter.