Kentucky Transpark project will create 38 jobs
FRANKFORT, Ky. (Sept. 3, 2015) — TMS Automotive is locating a facility at the Kentucky Transpark in Bowling Green. TMS will create 38 jobs and invest $5 million into the Bowling Green project.
TMS offers industrial clients a variety of specialized services, including parts washing; rust inhibitor applications; parts sorting; packaging; warehousing and distribution; and minor contract assembly.
“Kentucky has a vibrant automotive industry, contributing some $14 billion to Kentucky’s economy, and companies like TMS Automotive are an essential part of that,” said Gov. Beshear. “I want to congratulate TMS Automotive on its growth, as another example of a successful automotive company in Kentucky.”
Over the past five years, 360 motor vehicle-related projects have been announced in Kentucky, representing more than 20,000 new jobs and more than $5 billion in new investment.
Kentucky’s 473 motor vehicle-related establishments employ nearly 86,000 people and two-thirds of Kentucky’s counties have at least one auto-related employer in their community. The industry contributes $14.3 billion to Kentucky’s economy, meaning roughly $1 out of every $13 in the state’s economy is tied to the automotive sector.
Adding a facility in Bowling Green will put TMS closer connection with Bowling Green Metalforming and Cannon Automotive, allowing those businesses to curtail shipping costs. With the Elizabethtown location operating at full capacity, the additional facility also will allow the company to take on a much larger demand for products.
“We are excited about the opportunity to move closer to our customers in Bowling Green and to foster a relationship with the community,” said Michael Hall, president of TMS. “We look forward to a bright future and the growth this new location will allow.”
TMS has served Kentucky since 2007 as a distribution provider and materials handler for automotive parts. It has specifically serviced Ford Motor Company, Nissan, Mercedes, Bowling Green Metalforming (Magna), Metalsa, Cannon Automotive, Shiloh Industries, Artiflex, Tower Automotive and TAF by assisting them with needs related to parts washing and the application of rust inhibitor.
Currently, TMS washes parts at its Elizabethtown facility for suppliers in Kentucky and across North America. The company is also an active member of the Kentucky Automotive Industry Association (KAIA).
As a member of KAIA, established in 2014, TMS is part of a partnership between Kentucky manufacturers, suppliers and supporting entities. The industry-led association plays a vital role in addressing the challenges, solutions and opportunities facing the industry.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $400,000 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.
In addition, TMS was preliminarily approved by KEDFA for $25,000 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 equipment.
TMS also is eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 4,100 Kentucky companies.