FRANKFORT, Ky. — Taica Cubic Printing Kentucky LLC, which provides cubic printing, paint application, and assembly services on molded substrates for Tier 1 automotive suppliers, plans to expand its Clark County facility with a $4.4 million investment expected to create 20 well-paying jobs.
Taica plans to add to its existing 63,000-square-foot facility in the Winchester Industrial Park with a 25,000-square-foot expansion and the purchase of five injection molding machines across two phases. The added space would allow for in-house production of substrates currently purchased from other sources, increasing efficiency and lowering operating costs.
The Winchester facility became operational in 2013 and since has exceeded the company’s initial projections for wages and job growth. In 2014, Taica was approved for state tax incentives for its initial investment in Kentucky, projected to create 30 jobs at an average hourly wage of $22. Currently, the company employs 44 Kentuckians at an average wage of more than $26 per hour.
The Kentucky operation is a subsidiary of Tokyo, Japan-based Taica Corp., which was founded in 1948 and has operated under its current name since 2006. In 1984, the company developed Cubic Printing, a hydrographic printing process that involves floating a special printed film on water and using water pressure to transfer a printed pattern onto a substrate material. Other Taica technologies include Alpha GEL, a shock absorption, and heat dissipation material, and Alpha PLA mattresses used for bedsore prevention.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) last week preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $300,000 in tax incentives based on the company’s investment of $4.4 million and annual targets of:
- Creation and maintenance of 20 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $26.08 including benefits across those jobs.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Taica 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.