Auto Parts Producer, ARaymond Tinnerman Manufacturing, Increases Planned Investment In Flemingsburg, Kentucky Plant
The Flemingsburg facility, which is about 60 miles northeast of Lexington, produces window-channel guides, sunroof components and structural parts for the automotive industry. With the increased investment, the company has added a new process of plastic moldings and assemblies.
“It is great to be a part of manufacturing in the Commonwealth of Kentucky and having the support and leadership of Gov. Beshear and his economic development team,” said Bill Breeze, ARaymond Tinnerman plant manager. “The incentives created to help companies grow manufacturing business have proven to be effective. I am very pleased that ARaymond has confidence in the highly-motivated team in Flemingsburg to invest in a complete new process of plastic moldings. Our team has exceeded job growth expectations from the original project scope. This is the first step in our anticipated growth, which will create more opportunities for jobs in the future.”
“ARaymond Tinnerman has exceeded its own expectations, proving yet again why Kentucky’s auto industry is a true powerhouse,” said Gov. Steve Beshear. “The company has nearly quadrupled its investment and almost doubled the number of new jobs, making for a tremendous impact on Flemingsburg and the Commonwealth.”
As an incentive to encourage the increased investment and job growth in Flemingsburg, the Kentucky Economic Development Finance Authority amended the company’s approval for tax incentives to up to $1 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.
Supply Chain Bottlenecks Creating New “Logistical Hotspots”
The “Great Resignation” Is Impacting Corporate Relocations
Workforce Q4 2021
Changes in the Incentives Landscape
2020 Top States for Doing Business Showcase Their Pro-Business Environments
2021 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
How an International Business Can Enter the U.S. Market Via M&A