Manufacturing expansion expected to add up to 40 jobs in Princeton, KY
An expansion by a manufacturer is expected to add up to 40 jobs in a western Kentucky community.
Gov. Steve Beshear’s office said Tuesday that Hydro-Gear Limited Partnership plans to invest $2.6 million in the project at its operation in Caldwell County. Hydro-Gear is a designer and manufacturer of precision drive systems.
It produces a line of transmissions and transaxles for industrial, commercial and consumer markets. It first located a manufacturing operation in Princeton in 2005. The governor’s office says the company plans to add more capacity, including construction of a 55,000-square-foot warehouse.
Officials say the project is expected to be completed by year’s end.
The company has won preliminary approval from state officials for tax incentives up to $800,000 as part of the investment and job creation.