Announcement follows meetings between governor and Taica Corp. in Japan
WINCHESTER, Ky. (July 9, 2012) — Nearly two months after returning from an economic development trip to Japan, Gov. Steve Beshear today joined community leaders and company officials from Taica North America Corp. to announce its plans to locate a manufacturing facility in Winchester. The Japanese investment will create 30 new full-time jobs over the next several years and entail a more than $8 million investment by the company.
“Relationships are such a vital part of economic development, and that is why I am so pleased to know that our efforts to build a partnership with Taica have been successful,” Beshear said. “The location of this manufacturing facility in Winchester will only amplify the state’s strong base of Japanese-owned companies. I congratulate Winchester and Clark County officials and join them in welcoming Taica to Kentucky.”
Beshear met with Taica officials during a seven-day economic development trip to Taiwan and Japan in May. The goal of the Japan portion of the trip was to strengthen existing relationships with Kentucky-based Japanese companies, while also creating new opportunities, further enhancing Kentucky’s ties with the Japanese business community.
Japanese-owned companies already operate more than 150 facilities in Kentucky and provide more than 34,000 full-time jobs. Kentucky has the second-highest Japanese foreign direct investment on a per capita basis.
“We are excited about the new business opportunity we are able to pursue thanks to the support of the governor and his team,” said Tsuyoshi Suzuki, Taica Corp. Chairman and CEO.
The Japanese manufacturer was founded in 1948 in Shizuoka, Japan. The company makes shock absorbing material/components, vibration damping material/components and heat conductive materials, as well as three-dimensional decoration technology called CUBIC PRINTING and E-CUBIC.
Taica North America Corp. will utilize the proprietary technology of E-CUBIC, a process using specialized film to transfer printed patterns onto three-dimensional objects such as automotive parts, sports equipment and furniture. The plant is expected to be operational by the end of this year.
The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $500,000 for Taica 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.
For more information on Taica, visit www.taica.co.jp/english/.