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Area Development - Site Selection, Facility Planning and Workforce Development

PEAK Precision Manufacturing Plans Bowling Green, Kentucky, Operations

07/26/2024
PEAK Precision Manufacturing, a start-up mass production and manufacturing business, plans to establish operations in Bowling Green, Kentucky. The $3 million project is expected to create 24 jobs.

The new facility will be located in a 21,000-square-foot leased facility at 2859 Industrial Drive. Production is scheduled to begin before the end of 2025.

“PEAK Precision Manufacturing is poised to be a great addition to the Bowling Green industrial community,” said Kyle Allen, president of PEAK Precision. “We are incredibly grateful for the support from both the state and local levels, helping make this initial transition seamless from the beginning. We look forward to serving industrial manufacturers both locally and globally for many years to come.”

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority on Thursday preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $350,000 in tax incentives based on the company’s investment of $3 million and annual targets of: creation and maintenance of 24 Kentucky-resident, full-time jobs across 15 years; and paying an average hourly wage of $27 including benefits across those jobs.

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.

“The commonwealth’s manufacturing industry continues to grow at an incredible rate, leading the way for our surging economy and providing opportunities for Kentuckians in every corner of the state,” noted Governor Andy Beshear. “PEAK Precision’s choice to locate in Bowling Green is a testament to our state’s unique resources and talented workforce. I want to thank company leadership for their belief in our great state and I look forward to PEAK Precision’s success for many years to come here in Kentucky.”

In addition, PEAK Precision can receive resources from Kentucky’s workforce service providers.

“We are delighted to mark the establishment of PEAK Precision Manufacturing’s facility here in Bowling Green,” added Ron Bunch, Bowling Green Chamber president and CEO. “Steve and Kyle Allen have demonstrated outstanding leadership within our business community, and we are excited to support and contribute to their continued success.”

PEAK Precision fabricates metal parts to service industrial sectors across the automotive, agricultural, defense, steel and aluminum platforms.

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