Toyota Boshoku America to Locate in Northern Kentucky
Major Auto Industry Supplier Will Open Home Office in Erlanger, Kentucky
FRANKFORT, KY - Gov. Ernie Fletcher joined the Northern Kentucky Tri-County Economic Development Corporation (Northern Kentucky Tri-ED) and Toyota Boshoku America today in announcing that the company will locate its North American home office in the CirclePort Business Park in Erlanger, Kentucky. “Toyota has a strong presence and has made significant investments in Kentucky with Toyota Motor Engineering & Manufacturing North America, Inc. in Erlanger and Toyota Motor Manufacturing Kentucky in Georgetown,” said Governor Ernie Fletcher. “We welcome Toyota Boshoku America’s North American home office to the fold of Toyota companies located in Kentucky.”
Toyota Boshoku’s office in Erlanger expands on Northern Kentucky Tri-ED’s effort to attract office and corporate headquarters projects to the region. Toyota Boshoku will occupy 23,000 square feet of Class A office space in the Dolwick Business Center, 11 miles south of Cincinnati, and owned by Corporex Companies. Toyota Boshoku plans to commence operations in the new Home Office by August, 2007 and has an option on additional space in the building.
“We are very proud to join our fellow Toyota companies in Kentucky and locate our North American home office in Erlanger for many reasons, including the proximity to Toyota’s facilities and our joint manufacturing plants in the state,” said Sunao Yamamoto, President, Toyota Boshoku America, Inc. “Toyota Boshoku plans to expand its presence and sales in the U.S. and Northern Kentucky.”
Toyota Boshoku received approval for $2.1 million in tax incentives under the Kentucky Jobs Development Act by the Kentucky Economic Development Finance Authority on March 29, 2007. The company plans to hire 100 employees over the next two years and open the office later this year. Toyota Boshoku America is also seeking a significant BSSC grant for job training.
Toyota Boshoku America will maintain its R&D and related functions in Michigan as Technical Center and will strengthen and expand its operation there.
Gary Moore, Chair of Northern Kentucky Tri-ED’s Board of Directors and Boone County Judge Executive, said “Toyota Boshoku is a great addition to the exciting, dynamic business environment we are fostering in Northern Kentucky. This is another example of Northern Kentucky Tri-ED’s success in drawing growing, successful companies to the region.”
Site Selection Magazine recently ranked the Cincinnati/Northern Kentucky region No. 5 in its annual new and expanded businesses ranking and in 2006, Kentucky ranked 7th in Site Selection’s Annual Business Climate Rankings.
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The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2006 totaled more than $3.4 billion with the creation of over 18,200 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.thinkkentucky.com.