$143M Mitsubishi Electric US investment creating 122 Maysville jobs

FRANKFORT, Ky. — Mitsubishi Electric US (MEUS) will repurpose an existing manufacturing facility in Maysville to produce highly efficient heat pump compressors, which will bring 122 new full-time jobs with a $143.5 million investment.

Gov. Andy Beshear met with Mitsubishi officials in Tokyo to lock in the company’s commitment. The Cabinet for Economic Development believes this is the largest project in Mason County in 20 years.

“I had the privilege of meeting with Mitsubishi Electric’s leadership during last week’s economic development visit to Japan to discuss our longstanding partnership and how we can continue to grow together. We also discussed the unique opportunity presented by this project, and it is incredible news for the company and for the commonwealth,” Beshear said. “The establishment of this facility positions Mitsubishi Electric, a leader in all-climate heat pump systems, to take its business to the next level and emphasizes the importance of investing in companies that are committed to U.S. manufacturing. I want to congratulate the company’s leadership on their decision to reinvest in Kentucky.”

As the second-largest employer in Maysville, Mitsubishi Electric has produced automotive components in Kentucky since 1995, in tandem with a long history of training Maysville’s next generation of workers through collaborations with Morehead State University and the Maysville Community and Technical College, among others. As the automotive landscape has diversified beyond the internal combustion engine, Mitsubishi Electric has worked diligently to identify a viable alternative for this manufacturing facility and maintain its commitment to Maysville.

MEUS plans to establish the first-ever U.S. factory to build advanced twin-rotary variable capacity compressors, the key technology used in Mitsubishi Electric Trane HVAC US (METUS) highly efficient heat pump systems. A significant majority of these types of compressors are currently built in Asia.

METUS heat pumps offer precise temperature control, excel in cold climate conditions and operate efficiently to reduce carbon emissions associated with the heating of residential and commercial buildings. As the first of its kind in the United States, this investment will help grow domestic heat pump production capability necessary to meet the anticipated increased demand for these products. Further investments in renovations and facility modernizations will help reduce building emissions, improve energy efficiency and lessen environmental impact, consistent with Mitsubishi Electric’s goal of making all of its factories net-zero by 2030.

The U.S. Department of Energy (DOE) in November 2023 announced $169 million in funding for nine projects to accelerate U.S. heat pump manufacturing capability at 15 sites across the country. This project was selected by the DOE for a $50 million grant, which is pending final approval.

“Mitsubishi Electric is grateful to the Commonwealth of Kentucky for providing incentives to ensure we maintain our manufacturing presence in the Bluegrass State,” said Mike Corbo, president and CEO of Mitsubishi Electric US. “Creating technologies that support vibrant and sustainable societies is at our company’s core. This repurposed facility brings the production of compressors for our highly efficient heat pump systems here to the U.S., and with that new jobs and investments in technology that make American homes more comfortable, more sustainable and less expensive to heat and cool. This collaboration is a huge step toward many of our shared goals.”

MEUS, working with its joint venture METUS, its parent Mitsubishi Electric Corp. and affiliates (collectively, Mitsubishi Electric), is a leading designer, manufacturer and seller of advanced heat pump systems and sophisticated compressors used in residential and commercial settings around the world.

“Today’s announcement not only represents the culmination of an 18-month project supported by all levels of federal, state and local government, but also secures the next chapter for Maysville’s Mitsubishi Electric facility, ensuring this world-class Maysville workforce continues to thrive,” Mason County Judge/Executive Owen McNeill said. “Transitioning from a legacy Tier 1 automotive manufacturer to the United States’ preeminent highly efficient heat pump compressor manufacturer not only gives Maysville and Kentucky a huge highlight in this growing green energy technology but underscores the incredible and diverse talent these jobs and our workforce represents. I want to thank DOE Secretary Granholm, Governor Beshear and our team at Mitsubishi Electric, for their innovative thinking that has culminated in this investment.”

Maysville Mayor Debra Cotterill thanked the organizations that had a hand in the announcement: “Today’s announcement highlights the positive momentum we’re building in Maysville, Mason County and our region with high-paying, highly skilled technology jobs that will provide careers well into the future. I appreciate Mitsubishi Electric, the Beshear administration and our local economic development team for their efforts.”

Maysville-Mason County Industrial Development Authority Director Tyler McHugh congratulated MEUS on the announcement: “The Maysville-Mason County Industrial Development Authority (MMCIDA) would like to congratulate Mitsubishi Electric on the launch of their exciting new venture. Mitsubishi Electric has been a model for innovation for decades; now we look forward to seeing that continued innovation manifested right here in Maysville, Kentucky. Mitsubishi Electric and MMCIDA have been community partners for more than 20 years, and we look forward to continuing our growth together.”