T.RAD North America Inc., a Japan-based radiator manufacturer, will invest $10.8 million to upgrade production at its Hopkinsville, Kentucky aluminum and copper-brass plant facilities.
"Since 1988 when Toyo Radiator, now T.RAD Japan, decided to locate in Hopkinsville we have experienced great cooperation from the Commonwealth of Kentucky and the local community in growing our company, beginning with 50 employees to our current 410," said Hiromi Kanoh, president of T.RAD Japan. "We are excited about our future and believe the Hopkinsville community will continue to provide us with an excellent workforce and good relationships with the both state and local governments."
"T.RAD North America is a valuable asset to the Hopkinsville area, and we're proud to be part of the growth and success we're seeing today," Gov.Steve Beshear said. "This is a perfect example of one of the key goals of my administration, which is to partner with Kentucky businesses to help keep them competitive and prosperous right here in the Commonwealth."
Expansion of the plant at 210 Bill Bryan Boulevard in Hopkinsville includes the purchase of new equipment to increase production capacity and meet the demand for lighter weight aluminum products. While no new hiring is planned at this time, state officials noted proposed upgrades to the manufacturing facility will allow the firm to retain its existing workforce of 410 people.
As an incentive to encourage the investment in Hopkinsville, the Kentucky Economic Development Finance Authority preliminarily approved T.RAD North America for tax incentives up to $2 million through the Kentucky Reinvestment Act. The KRA is designed to assist companies that need to make significant capital investment in Kentucky facilities in order to remain competitive.
"This is a day when we can celebrate a real win-win situation," said Lt. Gov. Jerry Abramson. "T.RAD North America's investment is a statement of its commitment to Hopkinsville and a testament to the qualities of the area, including a close proximity to customers, easy access to shipping ports, low energy costs and an available workforce skilled in automotive manufacturing."
"Hopkinsville is pleased to have yet another expansion by T.RAD North America," said Hopkinsville Mayor Dan Kemp. "This is another major expansion of their operation here in our community since they began operations in Hopkinsville in 1988. They are a world leader in the production of radiators with facilities all over the world, with their only U.S. facility located here in our community."