Hayashi Telempu North America Corporation, a wholly-owned subsidiary of Hayashi Telempu Corporation, based in Japan, will invest more than $10.7 million to establish manufacturing operations in Frankfort, Kentucky, creating 103 jobs in the Commonwealth.
The firm manufactures automotive interior parts and will occupy a 60,000-square-foot facility on Fortune Drive in Frankfort. Established in 1947 in Japan, the company has grown to include more than 3,000 employees in offices and plants all over the world, including a location in Lexington, Kentucky.
“We are excited about opening our newest North American facility in the Frankfort location,” said Norio Takami, president and CEO of Hayashi Telempu North America Corp. “This new location will enable us to improve our ability to serve our customers more effectively, as we produce our new light-weight products with state-of-the-art equipment and leading-edge technology there. Operations will start in September 2014.”
“Hayashi Telempu is a global company that constantly works to improve itself and the products it creates,” said Gov. Steve Beshear. “This is exactly the type of drive and determination we admire here in the Commonwealth, and we’re proud to have Hayashi Telempu as a valuable addition to our thriving automotive industry, adding more than 100 new, full-time jobs and a $10.7 million investment right here in Kentucky.”
To encourage the investment and job creation in Frankfort, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.3 million 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.