Will create 200 new jobs
HOPKINSVILLE, Ky. (Dec. 2, 2014) — Lt. Gov. Crit Luallen today joined company officials and local leaders to break ground on T.RAD North America Inc.’s expansion in Christian County.
T.RAD, a Japanese-owned heat transfer manufacturer, is expected to create 200 jobs and invest $25 million.
T.RAD plans to construct additional manufacturing space to its 180,000-s.f. operation in Commerce Park. The expansion will increase production efficiency and reduce costs.
“Since 1988, when T.RAD decided to locate in Hopkinsville, we have experienced great cooperation from Kentucky and the local community in growing our company, beginning with 30 employees to our current 500,” said Tatsuya Kikuyama, president of T.RAD North America. “We are excited about our future and believe the Hopkinsville community will continue to provide us with an excellent workforce and good relationships with both the state and local governments.”
T.RAD North America designs and manufactures heat transfer and cooling systems for the automotive, motorcycle, construction and agricultural industries, as well as for the military. The company currently employs nearly 500 people in Hopkinsville.
In 2012, the company announced plans to invest $10.8 million to purchase new equipment to increase production capacity and meet the demand for lighter weight aluminum products.
More than 160 Japanese facilities are in Kentucky, employing more than 40,000 people. In the past two years, 52 Japanese companies have announced plans to invest more than $1.3 billion statewide.
Kentucky is home to more than 460 automotive-related industries that employ more than 82,000 people.
To encourage the investment and job growth in Christian County, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $2.3 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.
KEDFA also approved T.RAD for tax benefits up to $200,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.