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Area Development - Site Selection, Facility Planning and Workforce Development

Shinsung ST USA Plans Simpson County, Kentucky, Manufacturing Operations

04/01/2025
Energy storage solutions company Shinsung ST USA plans to establish operations in Simpson County, Kentucky. The $53.5 million project is expected to create 100 jobs.

The new manufacturing facility will produce components such as heat sinks and various parts for energy storage system (ESS) containers.

“Manufacturing and technology are both key to Kentucky’s economic success, and Shinsung’s new investment will strengthen these key industries in the commonwealth,” said Governor Andy Beshear. “This project will provide great job opportunities to our people, grow the local economy in Simpson County and expand our state’s footprint in this key energy storage sector. I want to welcome Shinsung to Kentucky, and I look forward to their success for many years to come.”

To support the project the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.6 million in tax incentives based on the company’s investment of $53.5 million and annual targets of: creation and maintenance of 100 Kentucky-resident, full-time jobs across 10 years; and paying an average hourly wage of $42, including benefits, across those jobs.

Additionally, KEDFA approved Shinsung for up to $340,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.

“The Franklin-Simpson Industrial Authority is thrilled to announce Shinsung ST USA’s $53 million investment and the creation of 100 new jobs in our community,” noted Franklin-Simpson Industrial Authority Executive Director Jim DeCesare. “This significant project underscores the success of our collaborative efforts to attract leading-edge manufacturers. We are especially grateful to Gov. Beshear and the Kentucky Cabinet for Economic Development for their invaluable assistance in securing this investment. The strategic location in the Henderson Interstate Industrial Park showcases the park’s attractiveness to companies like Shinsung ST USA. We are committed to fostering a strong partnership to fuel our region’s long-term economic growth and prosperity for Simpson County.”

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments. In addition, Shinsung can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

Shinsung ST USA is a subsidiary of South Korea-based Shinsung Delta-Tech which specializes in plastic injection molding and manufacturing electronic and automotive parts, including components for home appliances, mobile devices, and automobiles.

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