Area Development
Daicel Safety Tube Processing, a Japanese automotive components manufacturer, will locate a new $8.8 million manufacturing facility in Beaver Dam, KY, and create 25 jobs, according to an announcement made by Gov. Steve Beshear. This is the third Daicel plant to locate in Beaver Dam, bringing the company's total Kentucky employment to 525.

Daicel manufactures inflator components used in the automotive industry. Its new 35,000-sq.-ft. facility will be built in the Bluegrass Crossings Business Centre. Construction is expected to begin immediately and should be completed by June 2012.

The Kentucky Economic Development Finance Authority preliminarily approved Daicel for tax incentives up to $350,000 through the Kentucky Business Investment program. The performance-based incentives are based upon the company meeting job and investment targets. The company also was approved for tax benefits up to $50,000 through the Kentucky Enterprise Investment Act.

"Daicel Safety Tube Processing is exactly the kind of creative company that we want to recruit to enhance our position as a prime location for innovative business and industry," said Sen. Jerry Rhoads of Madisonville, KY