A multinational aerospace manufacturing firm is investing $65 million into their Walton campus, where they manufacture aircraft wheels and carbon brakes for mega-companies like Boeing.
With the return of mass air travel in the wake of the COVID-19 pandemic, global demand for carbon composite brakes for aircraft has increased. To meet that demand, Safran Landing Systems Kentucky — a subsidiary of Paris-based Safran S.A. — is investing $65 million into their Walton campus in Boone County. The expansion is expected to create 92 jobs.
Aerospace manufacturing is the largest export sector in the Kentucky state economy. Since 2022, Kentucky has exported nearly $10.5 billion in aerospace products and parts. The state boasts over 100 aerospace-related facilities that employ more than 23,000 people.
Gov. Andy Beshear commented on Safran’s investment by thanking the manufacturer for their “belief in the commonwealth.”
“The economic momentum Kentucky is seeing is a direct result of tremendous growth among our largest and most vital industries, and manufacturing and aerospace are at the center of that growth,” Beshear said in a press release. “We continue to see quality companies like Safran Landing Systems expanding to meet growing customer demand, and that is a recipe for long-term success for our economy.”
Safran Landing Systems Kentucky CEO Phillipe Garnier said the company is a “key contributor to the Kentucky aerospace manufacturing industry,” and their investment will bring specialized manufacturing skills to the local economy.
“This new investment will allow us to bolster our manufacturing capabilities with the addition of new equipment and strengthen our workforce to meet increased production volumes as we support our US military and commercial customers,” Garnier said.
Safran completed construction on their Walton facility in 1999. The facility was initially set up to manufacture carbon composite brake disks. In 2007, Safran expanded the facility to include the production of aircraft wheels and brakes.
The facility’s last major upgrade came in 2017 when Safran invested approximately $100 to expand production capacity. Currently, the site employs 340 Kentucky residents. Safran has invested nearly $300 million since the campus first opened.
“Safran Landing Systems continues to demonstrate its commitment to Northern Kentucky with multiple expansions since opening in 2000,” said Boone County Judge/Executive Gary Moore. “We’re grateful for the company’s dedication to our community and providing good-paying jobs in Boone County.”
Last week, the Kentucky Economic Development Finance Authority preliminarily approved a 10-year incentive agreement with Safran under the Kentucky Business Investment program. The agreement can provide the company with up to $1.495 million in tax incentives if it hits outlined annual targets.
The targets include creating and maintaining 92 full-time jobs for Kentucky residents across 10 years, as well as paying those employees an average hourly wage of $44.34 including benefits. By hitting the targets, Safran can become eligible to keep a portion of the new tax revenue it generates.
