FRANKFORT, Ky. — Automotive Service Products Inc. (ASP) announced it will expand its presence in the commonwealth with an $8 million investment to relocate within Boone County, creating an additional 25 quality jobs for Kentuckians.
The new operation will locate in a 55,000-square-foot building on 8 acres in Union and comes in response to the company’s rapid growth in the commonwealth. The $8 million investment will create an additional 25 jobs, including management, sales, production and back-office support roles. Construction on the new facility is expected to begin in January 2023 and be completed in December 2023.
Founded in 1986, ASP is a wholesale supplier and trade print manufacturer. The company provides a wide range of services, including in-house trade print manufacturing, custom products such as license plates, decals and office forms and warehousing and fulfillment. ASP’s clients range from single-person sole proprietorships to multimillion-dollar corporations. The company operates three distribution centers across the United States, located in Nevada, Ohio and Burlington, Kentucky. ASP currently employs 35 individuals in the commonwealth, with that number growing to 60 with this investment.
Additionally, KEDFA approved ASP for up to $40,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
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, ASP can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
