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Glasgow, KY (2022)

Nemak Kentucky

NMTC financing supported facility upgrades of Nemak's Kentucky electric vehicle manufacturing plant.

Investment

  • NMTC Amount: $7,250,000
  • Total Project Cost: $21,593,031

IMPACT

  • 77 FTE jobs
  • The project will create 77 new FTE jobs and retain an additional 77.

CDEs

Investor

Project Description

To remain competitive and relevant in the evolving automotive industry, Nemak is rapidly increasing its investments in Electric Vehicle (EV) related programs to support its customers’ mission for an all-electric
future and more sustainable mobility.

The market is trending away from traditional internal combustion engines towards electric motors. As a result, auto parts manufacturers like Nemak must adapt quickly to remain viable in the market.

Unfortunately, Nemak KY’s existing facility did not possess the ability to service or bid on EV contracts.
NMTC financing supported facility upgrades that will position Nemak as a premiere EV machining firm and for significant future growth over competitors, particularly in Mexico and China. The project will enable Nemak KY’s EV output to increase to 40% in the next 3 to 4 years, with that share rising over time.

MAP

Address: 400 American Avenue, Glasgow, KY 42141

Census Tract: 21009950401

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