Gov. Beshear: Whelan Machine & Tool To Expand Louisville Operations With Nearly $5.7 Million Investment Creating 30 Jobs

Veteran- and family-owned company operating in Louisville since 1989

FRANKFORT, Ky. (Dec. 11, 2024) - Today, Gov. Andy Beshear announced that Whelan Machine & Tool, a veteran- and family-owned precision-machine product and services business, is investing nearly $5.7 million to expand its Louisville operations. The project will create 30 new jobs for the area.

"The economic momentum we are seeing throughout Kentucky is the result of incredible growth among our largest and most critical industries, and manufacturing is at the center of that growth," said Gov. Beshear. "We continually see quality companies like Whelan Machine & Tool expanding to meet growing customer demand, and that is a recipe for long-term economic success in our New Kentucky Home. I want to thank the company's leadership for their belief in the commonwealth and look forward to its continued growth in Louisville."

Whelan Machine & Tool has a history of supporting technical skills training and education in the local school system. Whelan serves as a business partner and advisory member of Southern High School's Metal Working Academy, helping to identify potential gaps in the program's curriculum and machinery and contributing to its continuous improvement. In April 2024, Whelan supported the academy by providing two judges for the SkillsUSA Kentucky State Manual Machining Competition, an event they will support again in spring 2025.

"Our investment will drive a significant expansion of the important work Whelan performs in the defense industrial base in Kentucky," said Whelan Machine & Tool CEO and owner Patrick Malcor. "We're happy and thankful to have the support of the Commonwealth of Kentucky, Louisville and Jeffersontown as partners in our growth. Our goal is to bring more mission critical defense manufacturing to Kentucky."

Founded in 1989 and based in Louisville, Whelan Machine & Tool provides manual and precision milling and turning services using advanced CNC multifunctional turning and vertical machining centers capable of handling projects of all sizes. Whelan is ISO 9001:2015, AS9100D and ITAR compliant, ensuring 100% traceability throughout every phase of its projects.

Louisville Mayor Craig Greenberg showed support for the project: "We are happy to see a local veteran- and family-owned business continue to grow its operations in Louisville. Whelan Machine & Tool's expansion showcases the strength of our local economy, and specifically our manufacturing sector. We look forward to their continued success and the positive impact they will have on our city."

Jeffersontown Mayor Carol Pike welcomed the company to the area: "I personally want to welcome Whelan Machine & Tool to Jeffersontown. Our Bluegrass Commerce Park is a perfect place to invest and grow their family-owned business. Relocating their existing 58 jobs and creating 30 new jobs is a strong indication of a growing economy, and we wish Whelan Machine & Tool continued success."

Matt Meunier, director of community and economic development for Jeffersontown, spoke on the benefits of locating in Jeffersontown: "Jeffersontown is uniquely positioned to support the growing manufacturing sector of the economy with a great transportation network along with a diverse business climate. I am confident Whelan Machine & Tool will prosper in the Bluegrass Commerce Park and become a part of the Jeffersontown community."

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

Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling nearly $34 billion in announced investments, creating roughly 57,500 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth's history.

The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in 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.

In 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. And last month, the Governor announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in October preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $400,000 in tax incentives based on the company's investment of nearly $5.7 million and annual targets of:

• Creation and maintenance of 30 Kentucky-resident, full-time jobs across 10 years; and
• Paying an average hourly wage of $31.89, including benefits, across those jobs.

Additionally, KEDFA approved Whelan for up to $40,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.

In addition, Whelan can receive resources from Kentucky's workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

For more information on Whelan Machine & Tool, visit WhelanMachine.com.

A detailed community profile for Jefferson 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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