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Area Development - Site Selection, Facility Planning and Workforce Development

Thai Summit Kentucky Corp. Expands Bardstown, Kentucky, Operations

07/31/2023
Thai Summit Kentucky Corp., a leading sheet metal stamping company, plans to expand its manufacturing operations in Bardstown, Kentucky. The $131 million project is expected to create 78 jobs in Nelson County.

The investment will include a new building and new equipment acquisitions.

“Thai Summit Kentucky Corp. and its parent company, Thai Summit Group from Thailand, are committed to be an engine of growth in Kentucky as the Bluegrass State is becoming the crucial hub for North American EV production,” said Kanishka Ghosh, executive manager of administration, treasurer and secretary at TSK. “We will be more than doubling our current manufacturing footprint from 200,000 square feet to over 520,000 square feet by the third quarter of 2024 in Bardstown, which will generate additional auto employment and contribute to significant economic growth in the community.”

To encourage investment and job growth in the community, 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 $1.5 million in tax incentives based on the company’s investment of over $131 million and annual targets of: Creation and maintenance of 78 Kentucky-resident, full-time jobs across 10 years; and paying an average hourly wage of $39.60 including benefits across those jobs.

Additionally, KEDFA approved TSK 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.

“Companies like Thai Summit Kentucky that have established operations here and continue to invest in our workforce and communities are crucial to the economic momentum Kentucky is experiencing,” noted Governor Any Beshear. “I want to congratulate TSK on this great expansion in Nelson County and thank the company’s leadership for continuing to choose Kentucky as their manufacturing hub.”

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, TSK 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.

“Thai Summit’s continued growth and investment in Bardstown furthers our continued economic momentum on a local and statewide level,” added Nelson County Economic Development Agency President Kim Huston. “This significant commitment solidifies that Thai Summit is an essential part of our economy and certainly our future. As a community and county, we congratulate the leadership and employees of Thai Summit and look forward to assisting them in their continued success.”

Thai Summit America Corp., a leader in the sheet metal stamping industry, provides customers with world-class engineering, stamping and assembly capabilities, as well as tool and die design, construction, modification and refurbishment.

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