Stanford selected for new headquarters and manufacturing facility
Published 10:36 am Thursday, May 16, 2019
STANFORD — In a move that signals an expanding national presence, Aviation Safety Resources, Inc., (ASR) announced that it will move its corporate headquarters to Stanford and open a new 12,000 square-foot manufacturing and assembly facility. The new facilities will create 12 new high-paying jobs this year and more than 40 full-time positions in the next three years.
ASR designs, tests and produces whole-aircraft emergency recovery parachute systems designed to safely bring down an entire aircraft and its occupants in the event of an in-air emergency. The company is poised to disrupt the market for whole-vehicle recovery systems with an innovative approach and new technologies that will revitalize, reinvent and transform aviation safety with a series of new products and engineering services.
“ASR is the first company to offer the next generation of vehicle recovery systems specifically designed to meet the safety needs of the emerging flying car market,” said Larry Williams, ASR president and CEO. “Our expansion into central Kentucky represents an important step in our continued growth and we are extremely proud of the talented team that will launch these new facilities.”
Lincoln County Judge-Executive Jim Adams said, “We are extremely excited that a company with such an innovative product and worldwide profile has chosen to locate its headquarters and final assembly operations in Lincoln County. ASR’s decision is a testament to the vibrant community and supportive business environment we’ve worked so hard to create. We can’t wait to welcome them to their new home.”
The ASR facilities will be located at the Lincoln Business Park and is scheduled to open in September 2019. The location is within a designated Opportunity Zone, a new federal community investment program that connects private capital with undercapitalized communities across America and offers significant federal tax benefits for investors.
George Leamon, executive director at the Stanford-Lincoln County Industrial Development Authority, said, “We are building strong relationships with a number of exciting industrial partners and have significant projects underway. The aviation and aerospace industries are key to Kentucky’s future, so this new Aviation Safety Resources’ facility is great news for Lincoln County residents and business community.”
The new jobs created include engineering, assembly and administrative positions. The ASR workforce consist of industry leading engineering professionals with extensive design-build experience in both parachutes and aircraft.
“We have been in conversations with city, county and state officials for many months now and are in the final stages of negotiating an incentive package, which has been key in our final decision,” Williams said. “Relocating our headquarters to Kentucky was a natural step as Kentucky has a very strong presence in the aerospace market. As we continue to invest in our company, we are confident this new location in Lincoln County will help us attract and retain top talent and provide a new and improved environment for all ASR employees, vendors and customers.
“We look forward to working with the county judge-executive, the Stanford-Lincoln Industrial Development Authority and other community leaders as we embark on our next chapter of growth. We also want to thank the State EDC, Stanford-Lincoln IDA and the local business community as they continue to support the growth and investment in our manufacturing operations,” Williams added.
ASR continues to seek investors for its life-saving technology.
For more information please visit aviationsafetyresources.com or https://bit.ly/2WyMEgj.