Japan-Based T.RAD North America Invests $25 Million To Expand Its Christian County, Kentucky, Manufacturing Complex
T.RAD North America designs and manufactures heat transfer and cooling systems for the automotive, motorcycle, construction and agricultural industries, as well as for the military. The company currently employs nearly 500 people in Hopkinsville. The expansion will increase production efficiency and reduce costs.
“Since 1988, when T.RAD decided to locate in Hopkinsville, we have experienced great cooperation from Kentucky and the local community in growing our company, beginning with 30 employees to our current 500,” said Tatsuya Kikuyama, President of T.RAD North America. “We are excited about our future and believe the Hopkinsville community will continue to provide us with an excellent workforce and good relationships with both the state and local governments.”
This is the latest of several T.RAD investments in western Kentucky. In 2012, the company announced plans to invest $10.8 million to purchase new equipment to increase production capacity and meet the demand for lighter weight aluminum products.
To encourage the investment and job growth in Christian County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $2.3 million 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.
KEDFA also approved T.RAD for tax benefits up to $200,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
“This is an excellent opportunity for both T.RAD and Kentucky,” said Lt. Gov. Crit Luallen. “Matching a great company with our excellent workforce provides a significant boost to our local economy. We’re proud of our relationship with T.RAD, and we know the company and its employees will continue to succeed here.”
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