Canadian-based Thunder Manufacturing USA Inc. opened its $2.2 million, 30,000-square-foot, facility in Richmond, Kentucky, where it plans to create 45 jobs.
The firm began in 1965 as a small tool and die shop. It has grown into one of the leading metal stamping companies in Canada. The Richmond plant is the company’s first manufacturing facility outside of Canada. “We are excited to be opening up our first U.S. facility,” said Thunder President and CEO Singh Hansra. “We are looking forward to growing our presence here in Kentucky and look at this as a long-term partnership with this community.”
“Thunder is just beginning to rumble here in the Commonwealth, and that sound is music to our ears, with 45 jobs and a $2.2 million investment,” said Gov. Steve Beshear. “We anticipate this partnership will have a lasting impact on Richmond and Kentucky for years to come. This is a wonderful example of how Kentucky can attract top quality companies from outside the United States.”
To encourage the investment and job creation in Richmond, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $650,000 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.