NEW YORK — German automotive drive chain manufacturer Iwis Group will spend more than $12.5 million to build a 119,000-square-foot plant in Murray, Ky.
Tax incentives of up to $2.5 million have been approved for Munich-based Iwis in return for meeting job and investment targets.
The Murray facility will manufacture timing drive systems for engines, with production expected to ramp up in early 2014.
Kentucky Gov. Steve Beshear met with company officials during an economic development trip to Germany last summer to discuss the potential project.