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Maverick Tube picks Louisville’s Riverport for manufacturing plant, 240 new jobs

Tuesday December 14, 2004

A Missouri-based manufacturer has selected Louisville for a $63 million plant that will bring in excess of 240 new jobs in the community. Maverick Tube Corporation will build the facility at Jefferson Riverport International in southwest Louisville.

The Company plans to purchase 50 acres in the Riverport to construct a 400,000 square foot building, which is anticipated to be operational by late next year. The jobs, which will be created within the first two years of the project, will have an average wage of more than $16 per hour.

“I am thrilled to have obtained an investment of this magnitude for Louisville and Jefferson County. These new jobs represent a tremendous amount of opportunity for families in that region,” said Governor Ernie Fletcher. “I commend the business and community leaders of Louisville for helping the Commonwealth in our pursuit for more economic development. Together, we truly can make Kentucky a better place to live, work and raise children.”

Maverick’s investment is the largest in Louisville this year, and the second-highest in terms of jobs created. Officials with the Commonwealth of Kentucky, Louisville Metro Government and Greater Louisville Inc. – The Metro Chamber of Commerce have been working to bring Maverick to town for more than a year.
 
“Maverick's decision to locate here demonstrates Louisville's competitiveness in our region and even nationally,” said Mayor Jerry Abramson. “This is a significant increase in jobs in our community, and adds to Riverport's already all-time high in employment.”

Currently, the 107 companies located at Riverport employ about 6,000 workers.

Maverick Tube began as a mechanical tube manufacturer in 1978. Today, they have sales in excess of $1.0 billion, total assets greater than $950 million and 2.1 million tons of production capacity and are the leading North American producer of tubular steel products used in energy and industrial applications. Headquartered in Chesterfield, Missouri, the Company employs over 2,300 skilled workers throughout North America.

Scott Harris, Maverick’s vice president and general manager of Republic Conduit, said, “Maverick is excited to be locating our new facility in the Louisville area. Louisville offers a mixture of great people, great values and a vibrant community. We appreciate the hard work and cooperation we have received from the Commonwealth of Kentucky, the Kentucky Cabinet for Economic Development, the City of Louisville, Greater Louisville Inc. and Jefferson Riverport International in making this opportunity available. We look forward to getting better acquainted with our neighbors in the community and working with them.”

In October, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Maverick for up $7.5 million in incentives over the next 10 years under the Kentucky Industrial Development Act (KIDA), a program aimed at increasing manufacturing employment in the Commonwealth.

“The economic impact of Maverick’s decision will reach beyond Riverport, beyond Louisville and the Commonwealth,” said Steve Higdon, GLI’s president and CEO. “Maverick is a fiscally and environmentally sound company with strong corporate values. The business community welcomes Maverick to Louisville.”