L’OREAL USA TO INVEST $42 MILLION IN NORTHERN KENTUCKY

(The following is a reformatted version of a press release
issued by the Office of the Governor of the Commonwealth of
Kentucky and received via e-mail. The release was confirmed by
the sender.) 
Gov. Beshear Announces L’Oréal USA to Invest $42 Million, Add
More Than 200 Jobs in Northern Kentucky 
Decision follows meetings between Gov. Beshear, L’Oréal in Paris
this summer 
FLORENCE, Ky. (Nov. 15, 2012) - Governor Steve Beshear today
joined company and local officials in northern Kentucky to
announce an expansion for global cosmetics and hair care
manufacturer L’Oréal USA, which plans to add 211 jobs and invest
more than $42 million in the Commonwealth. 
Gov. Beshear met with L’Oréal officials in Paris during an
economic development trip to Europe this summer to discuss the
company’s Kentucky footprint and growth opportunities. 
“L’Oréal is a household name, a global brand and a leader in its
industry,” said Gov. Beshear. “We’re proud to have L’Oréal in
northern Kentucky and excited to see more than 200 new jobs and
a $42 million investment on the way. The Commonwealth’s
partnership with L’Oréal demonstrates the quality of workforce
in northern Kentucky, as well as the advantages that come with
such an ideal location for business.” 
L’Oréal USA is the largest wholly-owned subsidiary of L’Oréal
SA, based in Paris, France. In business for more than a century,
L’Oréal has built a portfolio of 27 international beauty brands.
The company employs more than 68,000 people worldwide. 
“L’Oréal’s business is growing globally, and the expansion will
enable us to meet increased consumer demand for the popular hair
care brands we are producing in Kentucky,” said Eric Wolff,
plant manager. “The Florence plant is a center of manufacturing
excellence for the L’Oréal Group, and the decision to expand US
production here will result in significant economic benefit for
Kentuckians.” 
Kentucky’s foreign direct investment (FDI) continues to grow, as
the Commonwealth is now home to more than 420 foreign-owned
companies from 30 nations, employing nearly 78,000 people.
European-owned companies represent a large portion of that FDI,
with approximately 180 companies that employ nearly 26,600
people. 
“We always welcome job-creators to our Commonwealth, but it is a
special source of pride to know that our workers have made such
a positive impression, that employers want to expand,” said Sen.
John Schickel, of Union. 
“L’Oréal’s decision to expand its operations is just the latest
example of how our region has become an economic engine for the
Commonwealth,” said Rep. Sal Santoro, of Florence. “This
investment, as well as the more than 200 jobs, is also great
news to our locally-owned small business owners, who will
benefit from more people shopping in their stores and spending
more money.” 
“L’Oréal’s decision to expand their manufacturing operations in
Kenton County is a great example of our existing companies’
commitment to northern Kentucky,” said Kenton County Judge-Executive Steve Arlinghaus, former chairman of Northern Kentucky
Tri-ED’s board of directors. “This is great news that drives our
economic development focus in northern Kentucky and the ongoing
cohesive efforts of Tri-ED, the local community and the
Commonwealth.” 
“The announcement of L’Oréal’s expansion showcases the growing
list of high quality manufacturing companies who have located
and expanded in our area,” said Gary Moore, Boone County judge-executive and chairman of Northern Kentucky Tri-ED. “Northern
Kentucky continues to be a natural location for manufacturing
operations because of our low cost to operate, great workforce
and logistical advantage. We thank L’Oréal for its ongoing
confidence in northern Kentucky, and we will continue to meet
their high expectations.” 
To encourage the investment and job growth in Northern Kentucky,
the Kentucky Economic Development Finance Authority (KEDFA)
preliminarily approved the company for tax incentives up to $5
million through the Kentucky Business Investment program. The
performance-based incentive allows a company to keep a portion
of its investment over the term of the agreement through
corporate income tax credits and wage assessments by meeting job
and investment targets. 
KEDFA also approved L’Oréal for tax benefits up to $800,000
through the Kentucky Enterprise Initiative Act, which allows
approved companies to recoup Kentucky sales and use tax on
construction costs, building fixtures, equipment used in
research and development and electronic processing equipment. 
For more information on L’Oréal, visit www.lorealusa.com. 
### 
Contact:
Kerri Richardson
502.564.2611
502.330.6633 
Terry Sebastian
502.564.2611
502.229.6130 
Mandy Lambert
502.564.4886 
(sgp) NY 
#<278855.14078.3.1.0.0.76>#
 
 
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