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Photo: Kentucky Cabinet For Economic Development
Ring Container Technologies, a plastic container manufacturer, has opened its $23.3 million, 41-job facility, Gov. Matt Bevin announced recently.
“We are excited to welcome Ring Container Technologies to Kentucky, and we look forward to helping this company flourish at its new location,” Gov. Bevin said. “In addition to a new investment and job creation in Jefferson County, Ring will offer the added benefit of providing products to local businesses in the region. We wish the company all the very best as they begin this new venture.”
The new Ring operation will produce food-grade polyethylene terephthalate (PET) bottles for local companies in the Louisville area. The new location will eliminate the company’s need for hundreds of shipments from its facilities in the Midwest. To accommodate the project, Ring leased a more than 125,000-square-foot facility on Johnsontown Road in Louisville and expanded it to over 128,000 square feet. The company also purchased and installed energy-reducing materials and equipment, including LED lighting, a chilled water system and a variable speed compressed air system.
“We’re thrilled to open a new plant in Louisville, which is strategically located to better service key customers,” said Ben Livingston, president and CEO at Ring.
Additionally, the Louisville facility will be the first to produce the company’s latest breakthrough technology, expected to be unveiled later this year.
“This cutting-edge application was developed to support the needs of our current and prospective customers, and we are pleased to be launching it in Louisville,” said Brian Smith, Ring’s senior vice president of innovation and supply chain.
Ring is a privately held company founded in 1968 and based in Oakland, Tenn. focused on the creation of sustainable products within the consumer packaging industry. It produces plastic food packaging products, including containers for Jif peanut butter, McCormick spices and large cheeseball containers, among a wide range of other items. The company operates 18 locations in the US, Canada and the UK. Ring is a sister company of RAPAC, a producer of eco-friendly polystyrene resins and finished products and a major recycler of polystyrene in the US.
Sen. Perry Clark, of Louisville, said Ring’s presence will benefit existing local companies.
“Ring Container Technologies’ decision to open its facility in Jefferson County and provide products to local businesses will be good for businesses in our region and provide a welcome boost to our economic base,” Sen. Clark said. “We look forward to the new jobs and stand ready with a skilled workforce to meet the company’s needs.”
Rep. Joni Jenkins, of Shively, described the project as a “win-win” for the entire community.
“I’m happy to welcome Ring Container Technologies to our community and want to thank its leaders for investing so much and creating these additional jobs,” Rep. Jenkins said. “I know many of Louisville’s other companies appreciate this as well, because it will make their jobs easier. This is a win-win for everyone involved.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in September 2017 preliminarily approved the company for tax incentives up to $700,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, Ring can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal year 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
For more information on Ring Container Technologies, visit www.RingContainer.com.
DPL Financial Partners LLC, an independent insurance consulting firm, will expand in Louisville with a $3.6 million-plus investment expected to create 40 full-time, high-paying jobs, Gov. Matt Bevin and Louisville Mayor Greg Fischer announced today.
“The financial services industry is building momentum in Kentucky, which is yet another sign of a fast growing economy,” Gov. Bevin said. “DPL’s expansion is proof that service companies are realizing the many advantages of doing business in Kentucky, including our skilled employees, high quality of life, low business costs and close proximity to much of our nation’s population. We welcome DPL to the commonwealth and are grateful to them for their investment here.”
DPL, currently on Stanley Gault Parkway, will move within Louisville as part of its expansion. Company leaders have yet to finalize the exact location. Following a soft launch in 2017 and with recent recruitment of investors, the company stands primed for growth. In the coming months, DPL will add sales and marketing, information technology and finance positions to its current staff.
“Louisville is an ideal location for our growing firm,” said David Lau, DPL founder and CEO. “We’ve attracted experienced, talented individuals to our team and appreciate the governor’s support as we look to expand our staff in the future.”
DPL is an insurance network for registered investment advisors, providing them and other fee-based advisory practices with a new model for offering low-cost, commission-free insurance to consumers. Lau founded DPL in 2014 to provide consultation to some of the nation’s largest insurance carriers on commission-free products. The commission-free approach saves money for customers, increases value and, ultimately, improves insurance products.
Mayor Fischer said the company makes a great fit in the city’s existing insurance and financial business community.
“Louisville is proud to have a historically strong financial services sector that can support new business growth such as these new, high-wage jobs at DPL Financial Partners,” he said. “I applaud DPL’s double down on investment in our city and look forward to seeing their fast-paced rise on the national financial services scene.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in January preliminarily approved the company for tax incentives up to $600,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over a five-year agreement term through corporate income tax credits and wage assessments by meeting certain targets. Those targets are: creation of up to 40 jobs paying at least an average $62 an hour including benefits, and the investment of $3.6 million. The company has since decided to inject more capital into the project without additional incentives.
In addition, DPL can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
For more information on DPL Financial Partners, visit www.dplfp.com.
Photo: Kentucky Cabinet For Economic Development
Appriss Inc., which provides data and analytics services to help clients address safety, fraud, risk and compliance issues, will expand its Kentucky presence by 200 jobs, investing $11.3 million as it relocates its headquarters within Jefferson County, Gov. Matt Bevin announced recently.
“Appriss is a leading employer in Kentucky whose innovative technology serves the law enforcement, justice, security and healthcare communities,” Gov. Bevin said. “Its expansion and relocation will provide greater growth opportunities in the years ahead. We look forward to watching the new Appriss building go from conception to completion. We are grateful to have Appriss thriving in Kentucky and thank its leaders for their continued commitment to Jefferson County and for their latest creation of excellent new jobs.”
Appriss will consolidate services from two Louisville-area locations and relocate by mid-2018 to a Jeffersontown office building at 9901 Linn Station Road, which ResCare Inc. announced earlier this year it would vacate. Going forward, the facility will be known as the Appriss Building. The company’s developer plans a new fitness area, conference center and outdoor lounge, as well as new entrances and signage.
“We believe our employees are some of the most talented in the area,” said Michael Davis, CEO of Appriss. “They are focused on our work that keeps victims safe, helps law enforcement catch the bad guys and supports our health providers as they fight the opioid crisis.”
“We are excited to design and build out 105,000 square feet of space that will be transformational in how more than 400 of our local team members work,” said Jeff Byal, chief financial officer for Appriss. “We are making a significant investment in technology, facility buildout and office furniture, as well as meeting and collaboration areas to align to how our teams work locally and with our other offices.”
Appriss has maintained its headquartered in Louisville since it was established in 1994 as the VINE company. Appriss uses data and analytics to address safety and compliance concerns for clients across an array of government and commercial enterprises in 25 countries, with a focus on retail, healthcare and public safety. The company currently employs 670 people in Louisville, Southern California, the UK and Poland. The new Louisville jobs are projected to pay an average hourly wage of nearly $40.
Sen. Julie Raque Adams, of Louisville, noted the company’s strong track record and the impact this announcement will have on the local workforce.
“I am pleased to hear of Appriss Inc.’s newest investment right here in Louisville, which will create new jobs and opportunities for our ever-growing Kentucky workforce,” Sen. Adams said. “As a company that has been established in the commonwealth for over 20 years, I know Appriss Inc. will continue to have great success in Kentucky and beyond.”
Rep. Phil Moffett, of Louisville, noted the state’s recent emphasis on economic growth.
“Since Republicans took control of the House nearly a year ago, economic development has been the number one priority of the House Republican Majority,” Rep. Moffett said. “I am elated about the $11.3 million investment and 200 additional good-paying jobs that Appriss plans to establish in Louisville. We want entrepreneurs and business owners around America to know that Kentucky is open for business.”
Jeffersontown Mayor Bill Dieruf said officials took extra steps to ensure Appriss remained in the community.
“The announcement of the Appriss retention/expansion project in Jeffersontown could not come at a more perfect and thankful time of year. Through our local Jeffersontown Occupation Business Saving (JOBS) Program inducement, we were able to add an extra incentive toward the corporate consolidation for jobs currently in the commonwealth, but not yet in Jeffersontown, in addition to the organic growth the company expects,” Mayor Dieruf said. “We appreciate all involved in this initiative, including the Commonwealth of Kentucky and Louisville Metro that were able to also partner with Appriss and enable the City of Jeffersontown to add our JOBS Program to the incentive mix. City council and I welcome all the new Appriss corporate employees to what will be the ‘Appriss Building’ at 9901 Linn Station Road, and thank those that have been with us since the company began.”
Louisville Mayor Greg Fischer welcomed the project.
“It’s an exciting day when a local business announces it is growing its high-wage jobs and expanding its services here in Louisville,” Mayor Fischer said. “Appriss’ expansion allows us to apply innovative healthcare and public safety-focused solutions at a local level. I applaud its founders and its employees, and I look forward to seeing its continued growth.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in October preliminarily approved the company for tax incentives up to $3 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
Appriss also can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal year 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
Gov. Matt Bevin congratulated local officials and executives from Logan Aluminum Inc. and its parent companies today on the opening of the aluminum plant’s phase I expansion in Logan County, as well as the groundbreaking of phase II of the project.
Together the expansions represent about $407.6 million in new investments, which are creating about 250 full-time jobs at the sprawling mill in southwest Kentucky.
“Logan Aluminum is a standard-bearer of growth and foresight in its industry, and we are grateful for its decision to expand in Kentucky,” said Gov. Bevin. “Logan Aluminum is no stranger to diversification, making large-scale investments to increase beverage-can sheet production, while simultaneously meeting an ever-increasing demand for automotive-grade aluminum sheet metal. Because of companies like Logan Aluminum, Kentucky is becoming recognized as the engineering and manufacturing center of excellence in America. We look forward to seeing how this company will continue benefitting the communities in and around Logan County.”
Officials today cut the ribbon on phase I of the expansion, a project originally announced in 2015. Logan Aluminum’s $240 million investment expanded the recycling/new ingot casting capabilities. A new 280,000-square-foot building will produce approximately 600 million pounds of cast ingot annually. The investment also increased capacities of its rolling mills, scalping and pre-heating operations. The company announced an additional $42.6 million investment would prepare the plant to manufacture thicker-gauge aluminum for other products including automotive sheet. The Phase I is creating approximately 190 jobs.
This past May, the company announced the project’s second phase, a $125 million, 65,000-square-foot cold rolling mill expected to create 60 full-time jobs. With the official start of construction underway today, the new mill will supplement existing cold rolling capacity by Spring 2019. The expansion will add capacity for both beverage can stock and heavier gauge rolled sheet for use in automotive body and structural panels.
“Almost two years ago to the day, we held our groundbreaking for the new DC4 Recycle Facility, and now we are here today for the ceremonial ribbon cutting of DC4, and for the groundbreaking of Logan’s new Cold Mill – CM4,” Logan Aluminum Plant Manger Ken Perdue said. “It’s an exciting time for aluminum and it’s a really exciting time for aluminum in Kentucky. It’s really happening here!”
Logan Aluminum began production in 1983 and is a joint venture between Tri-Arrows Aluminum Inc., headquartered in Louisville, and Novelis Inc., based in Atlanta. The facility accounts for about 45 percent of North American aluminum beverage can production.
Tri-Arrows is a subsidiary of Tri-Arrows Aluminum Holdings Inc. (TAAH). TAAH was established in 2011, and is 75 percent owned by UACJ Corp., 20 percent by Sumitomo Corp., three percent by Itochu Metals Corp. and two percent by Itochu Corp.
Novelis was founded in 2005 when it spun off Alcan Inc., a Canadian mining and aluminum manufacturer. Novelis was acquired by Indian company Hindalco Industries in 2007 and is now part of the Aditya Birla Group.
Sen. Whitney Westerfield, of Hopkinsville, praised Logan Aluminum’s dedication to excellence and their commitment to the commonwealth.
“I am excited to congratulate Logan Aluminum on the completion of the Phase I expansion,” said Sen. Westerfield. “As we celebrate the groundbreaking of Phase II, I want to thank the company for investing over $400 million into our region, creating over 200 new Kentucky jobs. I look forward to the final completion of this project as Logan Aluminum continues to celebrate its successes.”
Rep. Jason Petrie, of Elkton, noted the company’s long history of success and continuous growth.
“Logan Aluminum has been a pillar of the Russellville business community for 34 years,” said Rep. Petrie, who serves on the Economic Development and Workforce Investment Committee. “I congratulate Logan on their tremendous success with this exciting expansion and look forward to the nearly 250 jobs they are offering to the people of Logan County and surrounding communities.”
Logan County Judge-Executive Logan Chick expressed appreciation for Logan Aluminum’s continued investment and job creation in Logan County.
“Logan Aluminum is an outstanding corporate citizen, and we appreciate their faith and confidence in Logan County,” Judge-Executive Chick said.
Lewisburg Mayor Teddy Harper said the operation has a substantial impact on the community.
“Logan Aluminum’s continued growth and success means a great deal to Lewisburg,” Mayor Harper said. “Their world-class operation and employment helps the entire area.”
Russellville Mayor Mark Stratton said the region is fortunate to have Logan Aluminum providing employment opportunities.
“The presence of Logan Aluminum benefits Russellville and the rest of southcentral Kentucky,” Mayor Stratton said. “We are blessed to have a top-notch company of their quality in our community. We wish them continued success going forward.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $5.2 million for phase I and $6.5 million for phase II through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
Additionally, KEDFA approved Logan Aluminum for up to $1.8 million in tax incentives through the Kentucky Enterprise Initiative Act (KEIA) for phase I and up to $1.5 million for phase II. KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
Logan Aluminum also can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal year 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
Gov. Matt Bevin today announced WhiteRock Pigments Inc. will locate a $179 million chemical manufacturing operation in Hancock County, a project expected to create 124 full-time jobs.
“WhiteRock Pigments is breathing new life into the community of Hawesville,” said Gov. Bevin. “Companies like WRP are helping Kentucky’s manufacturing industry diversify and strengthen in communities across the state, and we are excited to welcome them to the Commonwealth. The addition of 124 jobs and new economic activity will be a significant boost for the economy of Hancock County, generating momentum for years to come.”
WRP will locate in the former Alcoa building on River Road in Hancock County, just northwest of Hawsville. The 305,000-square-foot facility on 65 acres has remained vacant the past nine years. Work to rehab and up fit the building and property could begin in January with the plant’s opening planned for April 2020.
“It has been a pleasure to work with the Kentucky economic development folks and the administration in Hancock County,” said Robert Meyer, CEO of WhiteRock. “Their responsiveness, hospitality and can do business attitude is a major contributor to our interest in the Hawesville site. WhiteRock will build a vibrant new enterprise and looks to be a significant contributor to the community”.
Founded in 2007, WRP will be using a propriety eco-friendly process to manufacture chemicals from a variety of feedstocks.
Sen. Joe Bowen, of Owensboro, said WRP will be a good fit for the community.
“I am pleased to welcome WhiteRock Pigments to Hancock County as the company invests nearly $180 million and revamps a local building that has been vacant for almost a decade,” Sen. Bowen said. “With the creation of over 100 new jobs, I know this company will be a great economic partner for our region and I wish it success in all future endeavors.”
Rep. Dean Schamore, of Hardinsburg, noted the significance of WRP locating in an existing facility that has been unoccupied for a number of years.
“I’m proud to welcome WhiteRock Pigments to Hancock County and am certainly grateful that the company is bringing the old Alcoa building back into circulation,” Rep. Schamore said. “I want to thank its leaders for recognizing our outstanding workforce and quality of life, and I appreciate the cooperative effort of our state and local officials.”
Hancock County Judge-Executive Jack McCaslin commended the Hancock County Industrial Foundation and its director, Mike Baker, for diligent work.
“The addition of White Rock Pigments is a tremendous asset to Hancock County by providing 124 new great paying jobs, along with the diversification of our manufacturing industry,” Judge-Executive McCaslin said. “Their revitalization of the old vacant Alcoa building to house the company is just another benefit they bring to our community.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in October preliminarily approved the company for tax incentives up to $3 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
Additionally, KEDFA approved WRP for up to $300,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
WRP also can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal year 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
Photo: Kentucky Cabinet For Economic Development
Gov. Matt Bevin announced Vanderbilt Chemicals, LLC will invest $13.7 million to increase the output of its Calloway County facility, which produces additive compounds for numerous industries.
“This growth by Vanderbilt Chemicals is evidence that a key Kentucky industry continues to flourish,” said Gov. Matt Bevin. “In today’s world, the chemicals industry fundamentally supports our daily lives, and Kentucky is proud that companies like Vanderbilt – a member of our corporate community since 1969 – choose to locate and prosper here. I wish the company well going forward and hope to see even more growth in the future.”
Vanderbilt’s expansion in West Kentucky includes the addition of a new spray drying system and a new building to house this equipment. The facility provides dried, purified and finished smectite and bentonite clay used in pharmaceutical, personal care, agri-science, ceramics, household items and other products. Company executives expect to complete the project in early 2019. Currently, the company employs 97 people at the Murray facility.
“Vanderbilt Chemicals, LLC has long enjoyed being a part of this great and growing community,” said Richard Davis, vice president at the Murray operation. “The support from local officials, neighbors and the commonwealth has been an important part of the decision to further expand our operations in this area and provide additional employment opportunities for people in our area.”
Vanderbilt Chemicals, founded in 1916 and headquartered in Norwalk, Conn., manufactures and resells chemicals for the rubber, plastics, paint, paper, petroleum, personal care and other minerals industries. Vanderbilt has an additional manufacturing facility in Connecticut and mining operations in Arizona, Nevada, New York, North Carolina and South Carolina.
The chemicals industry in Kentucky employs 15,000 people full-time at nearly 200 production sites across the state. This year through June, the industry announced more than $100 million in new investments.
Sen. Stan Humphries, of Cadiz, noted the company’s relationship with the local area.
“I would like to congratulate Vanderbilt Chemicals, which has been a community partner in Murray for a number of years, on this new multimillion dollar expansion. I look forward to the company’s continued success in Murray and wish its leaders the best in future endeavors.”
Rep. Kenny Imes, of Murray, said growth of companies like Vanderbilt contributes to the community’s overall quality of life.
“Any time a company invests a large sum of money, like nearly $14 million, it is indicative of the positive business environment in the area. I’m proud to continue working to attract this exact type of investment to Murray and our surrounding communities, and to bring more jobs to support families and to make our region the best place to live and raise a family.”
Murray Mayor Jack Rose praised the company’s professional practices.
“Long before I became mayor of Murray, I have known that Vanderbilt is one of those companies that quietly goes about the business of being the best they can be,” Mayor Rose said. “This investment in new equipment is a testament to their confidence in the labor force we have here in Murray and the surrounding area. We need more and better companies like Vanderbilt in West Kentucky.”
Calloway County Judge-Executive Larry Elkins said Vanderbilt has been a great match for the community’s workforce.
“Vanderbilt Chemicals has always been a really great company to work for and we are proud to see them continue to invest in Calloway County,” Judge-Executive Elkins said. “Like many family owned companies, they treat their people well and are a responsible corporate citizen that also works very hard to carefully manage their environmental footprint. Companies like these understand the great workforce that we have in West Kentucky.”
The Kentucky Economic Development Finance Authority (KEDFA) in May approved Vanderbilt for up to $100,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
In addition, Vanderbilt can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal year 2016, the Kentucky Skills Network provided training for nearly 95,000 Kentuckians and 5,000 companies from a variety of industry sectors.
For more information on Vanderbilt Chemicals, visit www.VanderbiltChemicals.com.
A detailed community profile for Calloway County can be viewed at http://bit.ly/CallowayCo.
Information on Kentucky’s economic development efforts and programs is available at ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter. Watch the Cabinet’s “This is My Kentucky” video on YouTube.
Last week, 
Gov. Matt Bevin announced Kobe Aluminum Automotive Products LLC (KAAP) will expand for a seventh time in Bowling Green, investing more than $51 million and creating 129 full-time jobs.
“This expansion by Kobe Aluminum Automotive Products is a shining example of growth among advanced manufacturers in Kentucky,” Gov. Bevin said. “Since establishing its Bowling Green plant in 2004, KAAP has proven itself an excellent corporate partner in the Commonwealth’s automotive industry. We are grateful for the company’s dedication to the state and are excited to see this remarkable success continue.”
KAAP will add more than 108,000 square feet to accommodate new production lines and equipment, including a melting furnace, forging presses and heat-treatment, casting and machining lines. The additional capacity will allow the company to meet increased sales goals. Company leaders expect the project to take approximately one year, with the start of production targeted for fall 2018.
“This is our 12th year producing aluminum automobile suspension parts in Kentucky. Two years ago we decided to make our sixth investment, and due to the increasing necessity of lighter vehicles, we have decided to make another investment,” said Toshihiro Katsura, KAAP president and CEO. “This will be our seventh additional investment, and we are truly grateful to the Commonwealth of Kentucky for all of the support and incentives we have received.”
The plant’s previous expansions total $293 million and it currently employs 500 Kentucky residents full-time. KAAP manufactures lightweight aluminum parts, including upper and lower control arms and steering knuckles. Lighter parts help reduce overall vehicle weight, which contributes to greater fuel economy and lower emission levels.
KAAP, based in Kobe, Japan, has served is home country’s aircraft and automotive industries since 1937, primarily manufacturing forged aluminum suspension products. The company is part of the Kobe Steel Group, known internationally as KOBELCO.
Kentucky’s automotive industry includes more than 500 facilities employing 100,000-plus residents full-time. The state ranks first nationally in light-vehicle production per-capita and is one of the top automotive production states overall.
The KAAP announcement brings the state’s 2017 automotive-sector total investment to more than $1.43 billion with nearly 280 new full-time jobs.
Sen. Mike Wilson, of Bowling Green, said the company has had an ongoing impact on the community.
“The expansion of Kobe Aluminum here in Bowling Green marks a great day for both our city and our Commonwealth,” Sen. Wilson said. “KAAP has successfully expanded in previous years, and this newest expansion will create more than a hundred new Kentucky jobs. I thank KAAP for its dedication to Kentucky’s workforce and look forward to the company’s continuous growth in our region.”
Rep. Jim DeCesare, of Bowling Green, noted KAAP’s importance to the local economic and workforce.
“Kobe Aluminum continues to invest in our region to the tune of nearly $52 million and 129 new jobs,” Rep. DeCesare said. “Since 2005, they have expanded six times for a total of $293 million pumped into our region. I commend them for this recent investment, and am proud to continue to support pro-business initiatives to encourage this exact type of growth.”
Warren County Judge-Executive Mike Buchanon welcomed the expansion and its economic impact.
“We are proud that KAAP continues to call Warren County home,” Judge-Executive Buchanon said. “Seven expansions in 12 years is a great testament to their success as a leader in an industry primed for growth. I extend our sincerest gratitude to KAAP for being such an important part of our local economy.”
Bowling Green Mayor Bruce Wilkerson said the new jobs and investment build on the company’s long partnership with the city.
“KAAP continues to have a tremendous impact on the city and our local economy,” said Mayor Wilkerson. “Their growth and success since locating to Bowling Green in 2005 is astonishing and we are grateful for all KAAP does for our community.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in April preliminarily approved the company for tax incentives up to $2 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
Additionally, KEDFA approved KAAP for up to $200,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
In addition, KAAP can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal year 2016, the Kentucky Skills Network provided training for nearly 95,000 Kentuckians and 5,000 companies from a variety of industry sectors.
For more information on KAAP, visit www.kobeal.com.