Setco facilities – A look inside the Georgia facility (left) and an exterior view of Setco’s current headquarters in Cincinnati, Ohio.
Setco Sales Co., a manufacturer of spindles and other precision parts and specialty products for the automotive and aerospace industries, relocates its headquarters to Boone County, Kentucky, creating 30 jobs. It’s an estimated $ 6.25 million investment.
The move of Setco, currently based in Cincinnati, Ohio, will allow the company to maintain its existing workforce of approximately 60 while expanding to increase manufacturing capacity. The new facility will expand Setco’s capacity to manufacture, repair and maintain high-performance precision spindles – an important part of CNC machining and many suspension and wheel turning systems, among other things. The Setco product line also includes slides and milling heads.
“I wanted to express how excited Setco is to partner with the Commonwealth of Kentucky on our new global headquarters,” said Jim Broz, President of Setco. “This modern and expanded facility will serve as a platform for growth in the North American market and be our worldwide home for Setco’s global business and management.”
The new facility will create jobs in the areas of machining, assembly, technology, sales and administration. Work on the project should be completed in spring 2022.
Setco was founded in 1912 and manufactures spindles including belt driven, gearbox, motor, high speed and high frequency models. In addition, linear guides are manufactured in more than 20 sizes and hundreds of models. In addition to the automotive and aerospace industries, Setco also supplies the construction, die, medical, plastics, wood, stone, and general metal processing industries.
Setco has nine offices around the world with offices in Michigan and Georgia and locations in Mexico, India, Taiwan and China. The Southeast Service Center in Lawrenceville, Georgia, covers an area of 20,000 square feet for all-round spindle repairs.
The Kentucky Economic Development Finance Authority has tentatively approved a 10-year incentive agreement with Setco as part of the Kentucky Business Investment Program. The performance-based agreement can offer up to $ 700,000 in tax incentives based on the company’s $ 6.25 million investment and annual job creation and wage goals. If the company achieves its annual targets, it can keep part of the newly generated tax revenue.
In addition, through the Kentucky Skills Network, the company can receive free recruiting and placement services, tailored training at reduced costs, and professional training incentives.