“This is a great investment by TG Automotive Sealing Kentucky, and will strengthen their ability to compete for new business as well enhance opportunities for their employees,” said Gov. Bevin. “The emphasis they place on improving working conditions, securing new contracts and raising employees’ skill levels sets them apart and reflects our vision of establishing Kentucky as the hub of excellence in engineering and manufacturing. I applaud their forward thinking and expect it will bring them even more success in the near future.”
A significant portion of TGASK’s investment allows the company to upgrade the facility’s cooling systems, an improvement that company officials anticipate will curb its spike in employee turnover during the hot summer months. The investment also will cover the purchase of additional extrusion lines, which will help offset the recent redistribution of some of the operation’s production to facilities outside the US.
Company leaders plan to complete the project by March 2019.
“We believe that investing in our team members and the environment in which they work will improve their commitment to continued employment with TGASK. This commitment will afford TGASK the opportunity to make additional manufacturing investments that can offset recent shifts in business that have negatively impacted the growth of the operation here in Hopkinsville,” said Jesse McGuire, TGASK vice president. “We need a more skilled and experienced workforce to compete for the business that is available in the near future. The support provided by the commonwealth of Kentucky through KEDFA makes our efforts financially possibly and puts TGASK in a future position to be a better contributor economically in our community.”
TGASK, a subsidiary of Japan-based Toyoda Gosei, was founded in 2002 and manufactures automotive weather-stripping, rubber molded and plastic interior auto parts.
Toyoda Gosei, founded in 1949, researches, develops and manufactures products for a variety of industries, including automotive, agriculture and telecommunications. Its products include body sealing systems, interior/exterior systems, optoelectronics, fuel system/functional parts and safety systems. Toyoda Gosei employs more than 17,000 people at 58 facilities across 17 countries.
During his economic development trip to Japan in early March, Gov. Bevin met with Toyoda Gosei Chairman Tadashi Arashima and discussed the company’s Kentucky presence.
Rep. Myron Dossett, of Pembroke, expressed confidence in continued success of the company.
“I want to congratulate TG Automotive on their impressive investment,” Rep. Dossett said. “TG Automotive has always been a strong community partner, driven by our dedicated workforce. I am confident they will continue to succeed here in Kentucky with this reinvestment, and I look forward to working with them in the future.”
Hopkinsville Mayor Carter Hendricks noted the company’s significant role in the business community.
“TGASK has been an important driver in Hopkinsville’s economy,” he said. “We wish them great success as they continue to supply global automotive clients from their location in Southwestern Kentucky.”
Christian County Judge-Executive Steve Tribble welcomed the reinvestment.
“Foreign direct investment has been key to manufacturing recruitment in Christian County,” Judge-Executive Tribble said. “I applaud TGASK on their growth and thank them for providing good jobs here in the commonwealth.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in March preliminarily approved the company for tax incentives up to $3.3 million through the Kentucky Reinvestment Act. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through tax credits applicable to corporate income or limited liability entity tax by meeting job-retention and investment targets.
In addition, TGASK 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 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 Toyoda Gosei, visit www.toyodagosei.com.
A detailed community profile for Christian County can be viewed at http://bit.ly/ChristianCo.
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.