Area Development
It appears Gov. Steve Beshear's recent trip to woo Japanese firms to come to the Bluegrass State, paid off by the time he got home. Shortly after returning, Japan-based Taica North America Corp. said it plans to invest $8 million to build a manufacturing facility in Winchester, Kentucky, east of Lexington.

"Relationships are such a vital part of economic development, and that is why I am so pleased to know that our efforts to build a partnership with Taica have been successful," Beshear said. "The location of this manufacturing facility in Winchester will only amplify the state's strong base of Japanese-owned companies. I congratulate Winchester and Clark County officials and join them in welcoming Taica to Kentucky."

"We are excited about the new business opportunity we are able to pursue thanks to the support of the Governor and his team," said Taica Corp. Chairman and CEO Tsuyoshi Suzuki.

"We look forward to a long-lasting partnership with the Commonwealth of Kentucky, its government and people," said Taica Corp. Managing Director and COO Taito Suzuki.

Taica Corp. manufactures shock absorbing materials, vibration damping materials, and heat conductive materials, as well as three-dimensional decoration technology called "CUBIC PRINTING" and "E-CUBIC."

Taica North America Corp. will utilize the proprietary technology of E-CUBIC, a process that utilizes specialized film to transfer printed patterns onto three-dimensional objects such as automotive parts, sports equipment and furniture. The plant, which initially expects to hire 30 workers at its Winchester-Clark County Industrial Park facility, will be operational by the end of this year.

"I am thrilled that Taica Cubic Printing has chosen to open a manufacturing facility in Winchester," said Sen. R.J. Palmer II, of Winchester. "Taica's investment will allow our region to reap the rewards of economic growth, development and jobs. It also speaks well of our workforce that Taica's chosen to locate its operation here."

"Our community is pleased to welcome Taica as they join our other outstanding Japanese companies and existing industry here in Winchester-Clark County," said Winchester Mayor Ed Burtner. "They will create more high-paying jobs for our citizens. We work hard as a community to ensure we can meet the needs of new and expanding industry, and this announcement validates those efforts."

To encourage the investment and job growth in Winchester, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $500,000 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.