FRANKFORT, Ky. (Dec. 11, 2017) – Flexible packaging manufacturer Takigawa Corporation plans to invest $45.9 million in a new facility, their first in the United States, in Bardstown, preserving 44 jobs and creating 136 additional positions averaging $36 per hour with benefits.
State officials approved economic development incentives for the project last week in Frankfort at a monthly Kentucky Economic Development Finance Authority board meeting.
“Kentucky’s food and beverage industry has grown consistently in recent years, and that momentum continued with the addition of Takigawa,” said Gov. Bevin. “I commend the economic development teams at both the state and local level for helping to bring this amazing company to Kentucky. This will be a fantastic addition to the corporate community in Nelson County. We are grateful to Takigawa for this decision and welcome them to the commonwealth.”
Takigawa will establish its first US manufacturing operation with the construction of a 180,000-square-foot facility on a greenfield site in Bardstown in an effort to meet growing demand. The operation will primarily serve high-impact packaging for high-impact brands.
Kentucky Cabinet for Economic Development Secretary Terry Gill and Executive Officer Vivek Sarin met with Takigawa officials during the SelectUSA Investment Summit in Washington D.C. in June, which ignited discussions about the company’s potential location in the commonwealth. Gill and Sarin also visited with company executives during this week’s economic development visit to Japan.
“After conducting a lengthy national site selection process, Takigawa is excited to have selected Bardstown, Kentucky as the home of our new US facility,” said Hiroyuki Takigawa, president of Takigawa Corp. Japan. “The Kentucky Cabinet for Economic Development and Bardstown’s leadership made us feel welcome from the first visit to the last and exceeded our expectations in providing for all of our needs. We look forward to a long and prosperous economic partnership with the City of Bardstown.”
Headquartered in Narashino, Japan, Takigawa was founded in 1949 for the extrusion of high-performance films for the packaging industry. The company has since grown into a global leader in pouching technology. The company expanded beyond Japan’s borders for the first time in 2011 with the addition of a factory in Vietnam, and has since established a presence in Canada, Europe and Singapore, as well as a sales office in Torrance, Calif.
Sen. Jimmy Higdon, of Lebanon, congratulated all those involved with the project.
“I am pleased to welcome Takigawa to Bardstown. I first want to congratulate Kim Huston, Representative (Chad) McCoy, Judge (Dean) Watts and Mayor Dick Heaton for their continued leadership and teamwork,” Sen. Higdon said. “This announcement today continues to make Nelson County and Bardstown one of the best communities in the state in which to live, work and to raise families. I look forward to Takigawa’s success in our community, and I thank them for their company’s multimillion-dollar investment and for bringing many new jobs.”
Rep. Chad McCoy, of Bardstown, said Kentucky welcomes new business like Takigawa.
“Since House Republicans were entrusted with the majority nearly a year ago, we have put a premium on passing legislation that will incentivize more business investment in our state and enable greater economic opportunity for every Kentuckian,” Rep. McCoy said. “I am thrilled that Takigawa is announcing a nearly $46 million project that will employ 180 people in our area. Kentucky is truly open for business.”
Bardstown Mayor Dick Heaton said the arrival of Takigawa showcases the community’s status as a premier destination for new business.
“The City of Bardstown greatly appreciates the investment of Takigawa in our community,” Mayor Heaton said. “This further substantiates the confidence this company has in our ability to deliver the necessary infrastructure, employees and other support needed for a successful launch of this business in Bardstown and Nelson County.”
Nelson County Judge-Executive Dean Watts said Takigawa will be a great fit for the community.
“Takigawa brings to Nelson County a diverse industry that will complement our current manufacturing portfolio,” Judge Watts said. “Their $45.9 million dollar investment is greatly appreciated.”
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 $2 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
Takigawa also can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal year 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.