The new venture will be located in the former 22,500-square-foot Custom Wiring building and will manufacture circuit board assemblies and perform systems integration for the electronics industry. The company, which has already begun operations, expects to be at full capacity in early 2013.
“SMC is very pleased to be a part of the Nicholasville community. This business is high-tech manufacturing with a small business atmosphere that we expect will attract the best people from the area,” Rob Coats, SMC’s owner said. “We appreciate the support that the Cabinet for Economic Development has given us to encourage us to invest in Kentucky.”
To encourage the start-up company’s investment in Nicholasville, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved SMC for tax incentives up to $1.5 million through the Kentucky Business Investment program. The performance-based incentive allows a 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 SMC, visit http://www.smckyems.com/.
Information on Kentucky’s economic development efforts and programs is available at 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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