Russian-based bottle decorating and packaging company to invest nearly $4.5 million
COVINGTON, Ky. (Feb. 11, 2013) – Westpack, a bottle decorating and packaging company based in Russia, plans to establish manufacturing operations in Covington. The project will create 63 new, full-time jobs and will represent a $4.49 million investment in the state.
Gov. Steve Beshear welcomed Westpack to Kentucky and applauded today’s announcement.
“The commonwealth is thrilled to partner with Westpack to see the creation of more than 60 jobs and an investment of nearly $4.5 million,” Beshear said. “We’re especially proud that a company from Russia has chosen Kentucky to do business, a testament to the ideal logistics and strategic location here in the commonwealth.”
Kentucky’s foreign direct investment continues to grow, with approximately 420 internationally based companies from 30 nations in the state, employing nearly 80,000 people.
“Westpack is in the business of grabbing attention, and they certainly are turning heads here, choosing northern Kentucky over anywhere in the world,” Abramson said. “This is a tremendous day for this area and the Commonwealth as a whole, showing Kentucky makes a perfect home for major companies from across the globe.”
Westpack is a new expansion of UniPack Group, a full-service glass container decorating and packaging company serving the alcohol beverage industry since 1995. The Covington location will be at a 126,000-s.f. facility on West 43rd Street. In addition to bottle decorating and packaging, the facility will be sufficiently machined and equipped to provide short-run decorations for special events and promotions.
“With decoration plants in Russia and Europe, expanding into the U.S. market was a natural next step,” said Simon Mnoyan, Westpack managing director. “And selecting the right state for our production was a function of customer logistics, business operating costs and quality of life. The commonwealth of Kentucky provided and met all three requirements for our expansion. We would like to express our gratitude to the commonwealth and the city of Covington for guidance and support in our endeavor.”
The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.5 million 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.
“We are told that large companies, especially international companies, look for places that are known for their diversity and inclusiveness when establishing new locations,” said Covington Mayor Sherry Carran. “Covington is gaining a reputation for those very desired characteristics, and I believe it is why Westpack chose Covington for its new manufacturing plant. Westpack locating here is a boost to the momentum we have been experiencing and a boost to our Latonia neighborhood. We are honored to welcome Westpack to Covington.”
For more information on Westpack, visit www.west-pack.com.