Cabinet for Economic Development
Governor Beshear Announces Plastikon Industries Kentucky to Expand into Second Manufacturing Facility in Leitchfield
Company to create 100 new jobs, invest $6.35 million
LEITCHFIELD, Ky. (March 10, 2011) – Gov. Steve Beshear today joined community leaders and company executives from Plastikon Industries Kentucky in Leitchfield to announce the company will expand its Grayson County operations. The automotive supplier will acquire a second facility with 90,000 square-feet, located at 918 Commerce Drive. The growth will result in 100 new jobs and a capital investment of $6.35 million.
“The expansion of Plastikon Industries Kentucky represents a significant economic boost to the Leitchfield community with the creation of 100 new jobs and a multi-million dollar investment,” said Gov. Beshear. “I’m delighted that state and local governments were able to partner with Plastikon to make this growth possible. We look forward to continuing this relationship for years to come.”
Plastikon Industries Kentucky manufactures plastic automotive interior trim for tier-one and tier-two suppliers. The company, formerly known as Inplast, has been operational in Leitchfield since 2006 and currently employs 120 people. The second facility is expected to be operational by April and in full production by the end of November 2011.
“Our 120 team members and managers have proved their dedication, loyalty and hard work, establishing our presence in the Midwest as a first-class injection molding facility,” said Fred Soofer, president and CEO of Plastikon. “Their efforts have resulted in further business opportunities for us. Additionally, the good logistical location, receptive workforce and cooperation of state and local officials, gave us the conviction and confidence to set up our second plant, not only in Kentucky, but in Leitchfield.”
The Kentucky Economic Development Finance Authority preliminarily approved Plastikon Industries Kentucky for tax incentives up to $1.5 million through the Kentucky Business Investment program. The performance-based incentive will allow Plastikon to keep a portion of its investment over a 15-year period through corporate income tax credits and wage assessments by meeting job and investment targets.
“Today’s announcement essentially means that Plastikon Industries will double the workforce at its Grayson County facility,” said Rep. C.B. Embry Jr., of Morgantown. “It is a reflection on the quality of workers in Grayson County, and its confidence in keeping its plant in our region for many years to come.”
“Grayson County is happy to be the home of Plastikon Industries and we are very enthused about the announcement of its expansion, creating 100 jobs and the purchase of an existing building in our community,” said Grayson County Judge Executive Gary Logsdon. “This investment is a great tribute to the people of Grayson County.”
“Our community has been hit hard by job loss and harsh economic times. In a time when very few companies have the capability to retain their current business much less think about expansion, we are fortunate to have a great business that will be expanding and adding jobs in our community,” said Leitchfield Mayor William H. Thomason. “We were proud to see Plastikon move to Leitchfield a few years ago and are even more excited today that they have chosen Leitchfield again to expand their business. Plastikon’s expansion is an investment in our community that will provide skilled jobs and opportunities for our residents and will promote our local economy.”
For more information on Plastikon, visit www.plastikon.com.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com.
A detailed community profile for Leitchfield (Grayson County) can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=010.
Follow Governor Beshear on Twitter @Govstevebeshear, read the Governor's personal notes on his blog at http://blog.governor.ky.gov/, and view the Governor's weekly YouTube commentary at http://www.youtube.com/governorbeshear.