Global forklift manufacturer CLARK Material Handling Co. will expand its Lexington, Kentucky headquarters, a $4.6 million investment that will create 40 jobs.
“We are grateful for the new jobs and investment CLARK is bringing to the Bluegrass region through yet another exciting expansion,” said Gov. Matt Bevin. “Our administration is committed to fostering a strong, sustained business climate that encourages growth and innovation. Continuing investment from Kentucky companies like CLARK underscores the commonwealth’s growing reputation as America’s center for engineering and manufacturing excellence.”
This expansion is the third in four years at CLARK’s North American corporate headquarters in Lexington. Company leaders expect the investment to triple production at the campus. In conjunction with this expansion, CLARK will begin re-shoring to Lexington production of its mainstay internal combustion products, the “S-Series,” with volume production expected this summer.
“The expansion of our Lexington manufacturing footprint is an important step to position CLARK for the future,” said Dennis Lawrence, CLARK’s president and CEO. “We are proud of the fact that upon completion of this expansion and re-shoring, nearly 80 percent of our products will come off the line right here in Lexington. This would not be achievable without the dedication of the local workforce and the support of state and local officials.”
The company hosted a ceremony Tuesday at its headquarters to celebrate the expansion.
CLARK has produced more than 1 million forklifts since 1917, when the company helped establish the material handling industry by starting production of the first gasoline-powered material handling truck. CLARK opened its Kentucky facility in 1974 and relocated its company headquarters to Lexington in 1985.
In addition to its full line of electric and internal combustion forklifts, CLARK also supplies manual and powered pallet jacks, narrow aisle forklifts and genuine CLARK aftermarket parts.
Rep. Joe Graviss, of Versailles, said the expansion will lead to more opportunities for Kentuckians.
“This is great news for the 40 families who will benefit from these jobs and the additional income they will get as a result, which in turn will make it easier for them to secure better health care and do such things as send their kids to college,” Rep. Joe Graviss said. “CLARK Material Handling Company’s decision to expand once again also is great for our tax base and will help strengthen our schools, our first responders and other community needs. Today’s news is another sign that we’re doing what it takes to help Kentuckians thrive.”
Lexington Mayor Linda Gorton said CLARK’s growth demonstrates her city’s supportive business climate.
“CLARK is once again expanding its workforce in Lexington, and creating jobs previously held in Asia,” Mayor Linda Gorton said. “This move sends an international message: Lexington is a great place to locate and grow a business.”
Bob Quick, president and CEO of Commerce Lexington Inc., said CLARK has long been a staple of the city’s business community.
“CLARK Material Handling Company has been iconic in Lexington’s community for over 45 years and continues to grow its manufacturing operation and global headquarters,” Quick said. “Our team has enjoyed a strong partnership with CLARK over the years, and we are excited to work with them as they continue to grow.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in September 2017 preliminarily approved the company for tax incentives up to $500,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
