Consultants Forum Advertise
Subscribe
Close

  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Subscribe Now
Renew

Area Development - Site Selection, Facility Planning and Workforce Development

Japan-Based Toyota Boshoku America Plans Hopkinsville, Kentucky, Operations

04/04/2023
Automotive interior systems manufacturer Toyota Boshoku America Inc. will establish operations in Hopkinsville, Kentucky. The $225 million project is expected to create 157 jobs.

The new facility will include a 365,400-square-foot building pad on 49 acres in Christian County. Operations are scheduled for August 2024.

“Our company’s history in Kentucky started 35 years ago,” said Hidenori Ozaki, president and CEO at TBA. “Since that time, we have grown our presence in the state, including bringing our America’s region corporate headquarters to Erlanger 15 years ago. We believe Christian County and the city of Hopkinsville are the ideal location for our next Kentucky site. We appreciate the Commonwealth of Kentucky, Christian County and Hopkinsville for their ongoing support of manufacturing in the state. We are excited to continue strengthening our relationship with the Commonwealth of Kentucky through the launch of this new facility.”

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $6 million in tax incentives based on the company’s investment of over $225 million and annual targets of: creation and maintenance of 157 Kentucky-resident, full-time jobs across 15 years; and paying an average hourly wage of $40 including benefits across those jobs.

Additionally, KEDFA approved TBA for up to $500,000 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.

“Kentucky’s manufacturing industry has seen incredible growth and momentum recently, and that isn’t stopping anytime soon,” noted Governor Andy Beshear. “We continue to see quality companies choose the commonwealth to expand their business and invest in our communities, and that speaks to our resources and talented workforce. Toyota Boshoku has played a major role in our state’s manufacturing sector for years, and I am thrilled to see them add another facility here in Kentucky.”

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, TBA 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.

“We are excited Toyoda Boshoku has chosen Hopkinsville’s South Park for their new smart facility investment creating over 157 great jobs and a sizable capital investment,” added Carter Hendricks, executive director of the South Western Kentucky Economic Development Council.

Kariya City, Japan-based Toyota Boshoku Corp. develops and produces interior, filtration and powertrain components and is the parent company of Erlanger, Kentucky-based Toyota Boshoku America (TBA). With 22 locations throughout the U.S., Canada, Mexico, Brazil and Argentina TBA is a manufacturer of automotive interior systems, which include seat, door trim, headliner, substrate and carpet in addition to air and oil filters for a variety of customers such as Toyota, BMW and Subaru.

Exclusive Research