NORTHERN KENTUCKY — Cincinnati-based Setco Sales Co., which manufactures spindles and other precision parts and specialty products for the automotive and aerospace industries, is relocating its headquarters to Northern Kentucky. The move to Boone County is expected to create 30 jobs in the coming years, Gov. Andy Beshear announced Monday.

“We’re happy to welcome Setco to the commonwealth. This exciting project supports several key industries in our state, while also creating great job opportunities for Kentucky residents,” Beshear said. “Setco also joins a growing list of companies that are finding Kentucky is a welcoming home to set up headquarters. Thank you to the leaders at Setco for this commitment and welcome to the commonwealth.”

The move will allow Setco to maintain its existing employee base of approximately 60, including six Kentucky residents, while expanding, according to a release from the governor's office. The jobs created will include machining, assembly, engineering, sales and administrative roles. Work on the project is scheduled to begin in September and be completed in spring 2022, the release added.

“I wanted to express how excited Setco is to partner with the Commonwealth of Kentucky for our new global headquarters,” said Jim Broz, president at Setco. “This modern and expanded facility will serve as a platform for growth in the North American market and be our worldwide home for Setco’s global operations and management.”

Setco, founded in 1912, operates nine facilities globally, with operations in Michigan and Georgia, and locations in Mexico, India, Taiwan and China.

The governor's office said Setco adds to approximately 4,500 manufacturing-related facilities in Kentucky, which employ about 260,000 Kentuckians statewide.

Boone County Judge/Executive Gary Moore welcomed Setco’s headquarters and manufacturing relocation to unincorporated Boone County.

“We welcome Setco and its 60 current office, sales and machining employees to Boone County,” Moore said. “The company is joining a strong manufacturing base in Northern Kentucky, and employees will enjoy the easy access and many amenities that Hebron provides.”

The Kentucky Economic Development Finance Authority (KEDFA) last Thursday preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The agreement can provide up to $700,000 in tax incentives based on the company’s $6.25 million investment and annual job creation and wage targets.

The company can be eligible to keep a portion of the new tax revenue it generates by meeting its annual targets over the agreement term. The company may claim eligible incentives against its income tax liability and/or wage assessments.

Setco can also receive resources from the Kentucky Skills Network, where companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.