A Canadian automotive parts company has selected Glasgow as the site of its first United States manufacturing facility.
Beta Tech Inc. is investing more than $5 million to acquire an 80,000-s.f. facility on 16 acres in Glasgow and plans to hire 100 people to staff the Fortis Manufacturing plant over the next several years. The plant will begin with a staff of 35.
Fortis, which operates as a division of Beta Tech, produces precision tooling and stampings for the automotive industry for customers throughout North America. The Glasgow plant is expected to be operational by January 2012.
The Kentucky Economic Development Finance Authority has approved incentives of up to $1.5 million for Fortis through the Kentucky Business Investment program, which allows the company to keep a portion of its investment through corporate income tax credits and wage assessments by meeting job and investment targets.