Cabinet for Economic Development
Gov. Beshear Announces Taica North America Corp. to Establish Manufacturing Operations in Winchester, Create 30 New Jobs
Announcement follows meetings between Gov. Beshear and parent company, Taica Corp. in Japan, on recent economic development trip
WINCHESTER, Ky. (July 9, 2012) – Shortly after returning from a successful economic development trip to Japan, Governor Steve Beshear today joined community leaders and company officials from Taica North America Corp. to announce its plans to locate a manufacturing facility in Winchester. The Japanese investment will create 30 new full-time jobs over the next several years and entail a more than $8 million investment by the company.
“Relationships are such a vital part of economic development, and that is why I am so pleased to know that our efforts to build a partnership with Taica have been successful,” Gov. Beshear said. “The location of this manufacturing facility in Winchester will only amplify the state’s strong base of Japanese-owned companies. I congratulate Winchester and Clark County officials and join them in welcoming Taica to Kentucky.”
Gov. Beshear met with Taica officials during a seven-day economic development trip to Taiwan and Japan in May. The goal of the Japan portion of the trip was to strengthen existing relationships with Kentucky-based Japanese companies, while also creating new opportunities, further enhancing Kentucky’s ties with the Japanese business community.
Japanese-owned companies already operate more than 150 facilities in Kentucky and provide more than 34,000 full-time jobs. Additionally, Kentucky has the second-highest Japanese foreign direct investment on a per capita basis.
“We are excited about the new business opportunity we are able to pursue thanks to the support of the Governor and his team,” said Taica Corp. Chairman and CEO Tsuyoshi Suzuki.
“We look forward to a long-lasting partnership with the Commonwealth of Kentucky, its government and people,” said Taica Corp. Managing Director and COO Taito Suzuki.
Taica Corp. was founded in 1948 in Shizuoka, Japan, and manufactures shock absorbing material/components, vibration damping material/components, heat conductive materials, as well as three-dimensional decoration technology called CUBIC PRINTING and E-CUBIC.
Taica North America Corp. will utilize the proprietary technology of E-CUBIC, a process using specialized film to transfer printed patterns onto three-dimensional objects such as automotive parts, sports equipment and furniture. The plant is expected to be operational by the end of this year.
“I am thrilled that Taica Cubic Printing has chosen to open a manufacturing facility in Winchester,” said Sen. R.J. Palmer II, of Winchester. “Taica’s investment will allow our region to reap the rewards of economic growth, development and jobs. It also speaks well of our workforce that Taica’s chosen to locate its operation here. I applaud Gov. Beshear for taking the lead to support our industry.”
“Our community is pleased to welcome Taica as they join our other outstanding Japanese companies and existing industry here in Winchester/Clark County,” said Winchester Mayor Ed Burtner. “They will create more high-paying jobs for our citizens. We work hard as a community to ensure we can meet the needs of new and expanding industry, and this announcement validates those efforts.”
“This is truly turning out to be a special year for our community,” said Clark County Judge-Executive Henry Branham. “We are seeing not only our existing industry continue to grow and expand, but also new investment and new jobs that companies like Taica continue to add to our region.”
To encourage the investment and job growth in Winchester, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $500,000 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.
*“CUBIC PRINTING” and “E-CUBIC” are trademarks of Taica Corp., registered in Japan and/or other countries.
For more information on Taica, visit www.taica.co.jp/english/.
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.
A detailed community profile for Winchester (Clark County) can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=093.