The proposed project includes the purchase of new equipment to increase production capacity and meet the demand for lighter weight aluminum products. The expansion will also place all administrative staff from both the copper/brass and aluminum divisions in one location.
Kentucky is home to more than 440 automotive-related industries that employ more than 68,000 people. Additionally, Kentucky ranks third highest in auto industry-related employment as a percent of total state employment among the top motor vehicle producing states in the United States.
“Since 1988, when Toyo Radiator, now T.RAD Japan, decided to locate in Hopkinsville we have experienced great cooperation from the Commonwealth of Kentucky and the local community in growing our company, beginning with 50 employees to our current 410,” said Hiromi Kanoh, president of T.RAD Japan. “We are excited about our future and believe the Hopkinsville community will continue to provide us with an excellent workforce and good relationships with the both state and local governments.”
Just last month, Gov. Beshear made an economic development trip to Japan to promote economic development growth of Kentucky-based Japanese companies. Japanese-owned companies already operate more than 150 facilities in Kentucky and provide more than 34,000 full-time jobs. Additionally, Kentucky has the country’s second-highest Japanese foreign direct investment on a per capita basis.
To encourage the investment in Hopkinsville, the Kentucky Economic Development Finance Authority preliminarily approved T.RAD North America for tax incentives up to $2 million through the Kentucky Reinvestment Act (KRA). KRA is designed to assist companies that need to make significant capital investment in Kentucky facilities in order to remain competitive.
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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