Gov. Beshear: Nitto To Locate New Multimillion-Dollar Facility in Frankfort, Creating 220 Manufacturing Jobs

Company contributes to Kentucky's automotive and aerospace industries

FRANKFORT, Ky. (Jan. 9, 2025) - Today, Gov. Andy Beshear announced that Nitto, a global developer of state-of-the-art technology and provider of products and services for automotive, electronics, aerospace and other industries, will open a new facility in Frankfort, creating 220 full-time jobs.

"The economic momentum Kentucky is seeing is a direct result of tremendous growth among our largest and most vital industries, and manufacturing, automotive and aerospace are at the center of that growth," said Gov. Beshear. "We continue to see quality companies like Nitto expanding to meet growing customer demand, and that is a recipe for long-term success for our economy. I want to thank Nitto's leadership for this new investment and look forward to their continued growth in our state."

The new facility, located at 120 Fortune Drive in Franklin County's Industrial Park 3, will provide Nitto with additional production space and a better location to assist the company to deliver a wide range of quality products to their customers. The Nitto facility will open for full-scale production in spring 2025.

"Nitto is excited to put down roots in the capital city and to welcome our team to the area in 2025," said Yukihiro Horikawa, president of Nitto Inc. "The access to our customers is unparallelled in the Bluegrass region. We are enthusiastic about the community and excited to invest in Frankfort."

Founded in Japan in 1918, Nitto is a manufacturer of high-performance materials providing a wide range of products globally. The company's aim is to be a sustainable and essential company, anticipating market changes and leveraging technological strengths to create products and services that contribute positively to the environment and humanity. Nitto employs over 27,000 people worldwide.

Franklin County Judge/Executive Michael Mueller welcomed Nitto to Frankfort: "We are so proud to welcome Nitto, their employees and families to Frankfort. Today is a great day in Franklin County and represents a crucial step in transforming our community's economic trajectory. Thank you to the leadership of Nitto for choosing to invest in our community."

Frankfort Mayor Layne Wilkerson spoke on the future impact: "Today's announcement at Nitto in Frankfort represents a milestone in our community. Advanced auto manufacturers have called Central Kentucky home for 40 years, and we are excited and eager to welcome Nitto to the capital city. Together, we are investing in Frankfort's future, and the future is bright!"

Frankfort/Franklin County Interim Economic Development Director Penny Peavler talked about what this project means to Frankfort: "Nitto's project is the largest job creation announcement in Frankfort/Franklin County since 2010 and represents the cumulative efforts of many that are creating transformational opportunities for our community."

Nitto's investment and job creation build on the best five-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,100 private-sector new-location and expansion projects totaling over $35 billion in announced investments, creating more than 59,800 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth's history and $14 billion more than the next highest total.

The robust job creation has been accompanied by rising wages across the commonwealth. Since 2022, the average incentivized hourly wage has topped $26 in three consecutive years for the first time.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On's transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC's $2 billion, 2,000-job gigafactory project in Warren County; Toyota's $1.3 billion investment in Scott County; Shelbyville Battery Manufacturing's $712 million investment, creating 1,572 jobs in Shelby County; and INFAC North America's $53 million investment in Taylor County, among others.

The Governor's administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody's Investors Service.

Last March, Site Selection magazine ranked Kentucky third nationally and first in the South Central region for economic development projects per capita in its 2023 Governor's Cup rankings. In April, Site Selection placed Kentucky second in the South Central region and in the top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear announced a Supply Kentucky initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies. The Governor also announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.

For more information on Nitto, visit Nitto.com.

A detailed community profile for Franklin County can be viewed here.

Information on Kentucky's economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.

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