FRANKFORT, Ky. (Sept. 1, 2026) – Today, Gov. Andy Beshear highlighted exciting new momentum within the state’s EV manufacturing sector as Astemo Americas – a division of global automotive technology leader Astemo – announced a more than $112 million expansion project at its Madison County operation, creating 114 new Kentucky jobs.

The investment represents the first phase of the company’s expansion project at its Madison County operation. Once completed, the potential scope of the project will total $379 million invested, creating up to 282 total jobs. The total project numbers would represent the largest private-sector investment in Madison County in the last 20 years.

“Kentucky continues to lead the way when it comes to advanced manufacturing and EV operations and this project represents another great company choosing to reinvest in the commonwealth,” said Gov. Beshear. “The expansion will create 114 new job opportunities for Kentucky workers and their families. Congratulations to Astemo Americas on this historic project, and I look forward to many more years of their success here in the commonwealth.” 

Astemo Americas currently operates two manufacturing facilities in Berea. The expansion project would add nearly 300,000 square feet of operational space between both Berea plants, as well as facility upgrades and new equipment, increasing production capabilities and the combined output of the company’s Madison County operation.  

“For over four decades, Kentucky has been a cornerstone of our U.S. operations, beginning with the establishment of our first plant in Harrodsburg in 1985,” said Tim Clark, president and CEO of Astemo Americas. “Since then, we have expanded to three plants, making the state a core driver of our North American operations. We remain committed to the communities and teams that drive our success. We are grateful to the Kentucky Economic Development Finance Authority for its continued support as we expand our operations in Berea to provide our U.S. customers with cutting-edge EV motors.”

Astemo Americas Inc. is a division of Astemo Ltd., which is a major global supplier in the automotive industry. Astemo Americas manufactures and markets engine management, electric powertrain and integrated vehicle controls for major automotive manufacturers worldwide. The company serves as a supplier to some of the world’s largest automobile manufacturers and has more than 15,000 employees across its 23 manufacturing sites, including 12 operations in the U.S. and three locations in Kentucky.

For more information on Astemo Americas, visit www.am.astemo.com

Berea Mayor Bruce Fraley noted the incredible impact the project will have on the community and region’s workforce: “We are very excited to see this significant investment and expansion of Astemo Americas Inc. in Berea. This expansion will have a generational impact on our community and the region as quality career opportunities are created to facilitate additional production of advanced automotive components. The decision to expand in Berea certainly speaks well for the management and employees of the Astemo Americas Berea facilities. The city of Berea looks forward to continuing to grow with our largest employer, Astemo Americas.”

City of Berea Director of Business and Economic Development Donna Angel highlighted the city’s workforce and manufacturing sector growth: “This $112 million manufacturing expansion and creation of 114 new jobs represent a transformational investment in our city’s future, validating our pro-growth strategy and cementing our local workforce’s reputation for excellence. This project will strengthen our manufacturing footprint while broadening our local tax base for public services and signaling our economic confidence to outside investors and supply chains.” 

Astemo Americas’ investment and job creation furthers what has been the best six-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,300 private-sector new-location and expansion projects totaling over $50.7 billion in announced investments, creating more than 70,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $29 billion more than the next highest total.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the battery capital of the United States: AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Ford Motor Co.’s $2 billion, 2,200-job commitment in Louisville, as well as its $2 billion, 2,100-job project at the Kentucky 1 plant in Hardin County; Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby County; and Toyota’s $1.3 billion investment in Scott County, among others.

The Governor announced Kentucky once again set an all-time record for products shipped globally, with $51.6 billion in exports in 2025, representing a 7.65% increase over 2024.

Unemployment rates fell in all 120 counties between December 2024 and December 2025.

The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.

In addition, Kentucky has secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody’s Investors Service.

Earlier this year, Site Selection magazine ranked Kentucky in the top five nationally and second in the South Central region for economic development projects per capita in its 2025 Governor’s Cup rankings. In June, Area Development magazine awarded the commonwealth a Silver Shovel designation in its 2025 Shovel Awards, which highlight states for attracting high-value investment projects that will create a significant number of new jobs in their communities.

Gov. Beshear also announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in April 2026 preliminarily approved incentive agreements with the company through both the Kentucky Business Investment (KBI) program and Kentucky Enterprise Initiative Act (KEIA).

A detailed community profile for Madison County can be viewed here.

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