Plan eligible for $700,000 in state incentives; could bring 90 jobs

DEVELOP DANVILLE

News release

Denyo Manufacturing Corporation (DMC) announced its plans for a major expansion to its facilities and operations in Danville Thursday. The company will invest $8,676,000 for construction of an additional building and purchase of new equipment, while adding up to 90 new jobs to Danville-Boyle County’s tax base.

A new 63,000-square-foot facility will be constructed on the current Denyo campus for fabrication of sheet metal components used in generator and air compressor assembly. The new facility will include state-of-the-art equipment for cutting, bending and welding of steel for complex structural components on-site.

Thursday morning, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved state financial incentives in the amount of $700,000 for a portion of Denyo’s expansion project. Denyo intends to also request local financial incentives to support its entire project.

Toru Hiroi, chief executive officer, commented on Denyo’s expansion plans: “Adding sheet metal fabrication on-site is the next step in growing the capability of Denyo’s Danville facility. It is a significant step in enhancing the productivity and cost-effectiveness of our facility. This investment is an indication of our confidence in and appreciation for our employees and the Danville community.”

Joey Harris, plant manager/director, also remarked: “I have been privileged to be a part of the Denyo story in Danville since the very beginning. This expansion is the latest in a series of investments intended to keep Denyo’s products the best in the marketplace. It is also a vote of confidence in our employees, the Danville-Boyle County community, and the Commonwealth of Kentucky.”

“Denyo has been a valued corporate citizen in Boyle County since 1995, during which time it has grown through several significant expansions if its facilities and operations,” said Boyle County Judge-Executive Harold McKinney. “The greatest testimony for our local business environment is not just when a company decides to locate here, but when a company expresses its confidence in our community by reinvesting again and again. We thank Denyo for their confidence in us.”

“We welcome the news of Denyo’s continued growth,” Danville Mayor Mike Perros said. “It is remarkable that Denyo’s only operation in the Western Hemisphere is located and expanding right here in Danville, when it could choose to operate anywhere to serve the North American market. This is a testament not only to our community’s strong support of local industry, but also to the quality and productivity of our workforce.”

“Good relationships are vital to the retention and expansion of industry in a competitive world economy,” said Jody Lassiter, president and CEO of Develop Danville Inc. “We value our long-standing and close relationships with Denyo’s local management and corporate leadership teams. When I met with Denyo’s top company executives in Tokyo earlier in April with Gov. Matt Bevin and Economic Development Secretary Terry Gill, I believe together we sent a strong message of support for the company’s future growth that encouraged this result.”

Denyo’s expansion is planned to be fully operational by October 2018.

Denyo Manufacturing Corporation (DMC), located in Danville, Kentucky, is a jointly-owned enterprise of Denyo Co., Ltd., through Denyo America Corporation, and ITOCHU Corporation, through ITOCHU International, Inc. DMC is the only Denyo manufacturing facility located in North America, with sister facilities in Fukui and Shiga, Japan, as well as Indonesia and Vietnam. Denyo established its operations in Danville in 1995. DMC’s Danville facility assembles engine-driven generators that are designed for continuous, long-term service. Denyo generators are widely used in rental, construction, telecommunications and special events applications as well as by the U.S. military and FEMA.

SO YOU KNOW

Develop Danville Inc. is the “doing business as” name for the Danville-Boyle County Economic Development Partnership.