Japan-based auto supplier Itsuwa plans to locate a 16-acre, 32,000-square-foot, coating and painting facility at Wilson Industrial Park in Nelson County, Kentucky. The operation, which will be called Itsuwa Kentucky, will create 43 jobs and invest $5.2 million in the Commonwealth.
It will be the company’s second location in the United States and first in the Commonwealth. The facility is expected to be operational early next year. “Itsuwa looks forward to locating its facility in Bardstown, with its flourishing automotive base and business-friendly atmosphere,” said Akira Hayashi, Itsuwa’s General Manager. “Itsuwa is also very pleased with the warm welcome it has received from Bardstown as well as from Kentucky. Thank you for welcoming Itsuwa to Kentucky.”
Itsuwa Kentucky is a subsidiary of Itsuwa Sesisakusyo Co. Ltd. Established in 1973, the company specializes in coating and painting automotive parts, including seats, chassis, pipes and interior plastic panels. The company also designs and builds its own equipment, including robot spray paint and electrocuting systems.
To encourage the investment and job creation in Bardstown, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $800,000 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.
KEDFA also approved the company for tax incentives up to $50,000 through the Kentucky Enterprise Initiative Act. The program 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.
“Today is an outstanding celebration for Itsuwa Kentucky, Bardstown and the Commonwealth,” Lt. Gov. Luallen said. “We have a tremendous workforce in Kentucky and an ever-growing reputation for our skills in the automotive industry, which is such a driving force for the economy.”