The automotive parts supplier’s location will entail a $5.1 million investment
Fortis Manufacturing, a division of Beta Tech Inc., makes precision tooling and stampings for the automotive industry for customers throughout North America. The company plans to acquire an 80,000-square-foot facility on 16 acres in Glasgow. The new plant is expected to be operational by January 2012.
“We are excited about our new operation in Glasgow, Kentucky,” said Rob Kunjah, president of Beta Tech Inc. “We look forward to growing our business, expanding our U.S. client base and providing job opportunities to the community. We appreciate the Kentucky Economic Development Cabinet for their help and incentives making Glasgow the best location for Fortis Manufacturing, a division of Beta Tech Inc.”
To encourage Fortis Manufacturing to locate in the Commonwealth, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.5 million through the Kentucky Business Investment program. The performance-based incentive allows the company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
For more information on Fortis Manufacturing, visit http://www.fortis-mfg.com/.
Information on Kentucky’s economic development efforts and programs is available at http://www.thinkkentucky.com/. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky
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