FRANKFORT, Ky. (KT) - A Japanese company plans to invest $46 million in a new manufacturing operation in Bardstown, creating about 180 full-time jobs.
Takigawa Corp. Japan announced it will build a 180,000-square-foot facility to produce a flexible packaging and high-performance films facility, the first of its kind in the U.S., to meet growing demand. The operation will primarily serve high-impact packaging for high-impact brands.
"Kentucky's food and beverage industry has grown consistently in recent years, and that momentum continued with the addition of Takigawa," said Gov. Matt 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."
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, where discussions began about the company possibly locating in Kentucky. Gill and Sarin also visited with company executives during a recent economic development trip to Japan.
Headquartered in Narashino, Japan, Takigawa was founded in 1949 to extrude 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.
"The city of Bardstown greatly appreciates the investment of Takigawa in our community," said Mayor Dick Heaton. "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."
The Kentucky Economic Development Finance Authority has given preliminary approval for tax incentives up to $2 million through the Kentucky Business Investment program. It 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. Other companies have received no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
During the fiscal year that ended June 30, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies in a variety of industry sectors.