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
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.