“This is an excellent success story for Glasgow and Innovative Manufacturing Services,” Gov. Beshear said. “The company has just three employees today, but they’re about to experience a huge growth spurt by hiring 25 more. We are proud to partner with such a dynamic company to make this growth possible.”
Innovative Manufacturing Services, which was established in Glasgow in 2003, has outgrown its existing 3,200-square-foot facility. The company has purchased a new 20,000-square-foot facility that will allow it to create a national network for its products. The new plant will be fully operational later this month.
“The expansion of Innovative Manufacturing Services is an exciting time for us, and we appreciate the efforts by Gov. Beshear and the Kentucky Cabinet for Economic Development, which has had a positive impact on investment decisions,” said Mike Goad, president of Innovative Manufacturing Services. “We are looking forward to profitable growth of our business and to contribute to employment opportunities for the region.”
The Kentucky Economic Development Finance Authority preliminarily approved Innovative Manufacturing Services for tax incentives up to $500,000 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 Innovative Manufacturing Services, visit http://www.ims-ky.com/.
Information on Kentucky’s economic development efforts and programs is available at http://www.thinkkentucky.com/.
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