Green Tokai, which supplies rubber, plastic and injection-molded parts for the automotive industry, plans to grow its weather stripping and auto trim facility. The expansion will create 24 additional jobs and the company will invest $4.4 million into the project.
“We are excited to see Green Tokai grow in northeastern Kentucky with the creation of two dozen new jobs in Maysville,” said Beshear. “Our automotive industry continues to stand out as one of the best in the nation, and we owe a lot of that success to quality suppliers such as Green Tokai.”
Green Tokai manufactures rubber extruded, plastic extruded and injection-molded parts in its 160,000-square-foot facility on Downing Drive. The 15,000-square-foot expansion will allow the company to purchase new equipment and develop new processes. Construction on the new addition is expected to begin this month and be completed by December.
“We are delighted to be able to work with both the state and local governments to meet Green Tokai’s goal of continued commitment to our community,” said Charlie Sapp, Green Tokai’s Maysville general manager. “This is an opportunity for Green Tokai and nearly 300 associates at our Maysville facility to have a positive impact on the current economic condition. Our associates, through their commitment to quality and dedicated service, have allowed us this opportunity to add new business. We are excited about the future and look forward to maintaining our role as one of the business leaders in this community.”
Green Tokai is headquartered in Brookville, Ohio. The Maysville plant opened in 1996. GTC is a subsidiary of Tokai Kogyo Co., Ltd. of Aichi, Japan.
Kentucky’s nearly 460 motor vehicle-related establishments employ more than 82,000 people. The commonwealth ranks third in the nation in overall light vehicle production and first on a per capita basis, according to Beshear.
“I’m really pleased to see Green Tokai take this step and invest further in Mason County,” said Rep. Mike Denham, of Maysville. “Green Tokai is a good corporate citizen and this just adds to our region’s reputation and is further proof that our workforce is truly second to none.”
“Green Tokai has been one of the long-term success stories for the city of Maysville,” said Maysville Mayor David Cartmell. “This expansion is evidence of how well-managed businesses can thrive in a global marketplace. We are pleased that they chose a productive facility like the Maysville operation to grow with.”
“We are very pleased that Green Tokai selected Maysville and Mason County for its expansion,” said Mason County Judge-Executive James “Buddy” Gallenstein. “Green Tokai has been a great corporate citizen and we are very fortunate to have the expansion and additional jobs it will bring.”
To encourage the investment and job growth in Mason County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $500,000 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 Green Tokai for tax benefits up to $30,000 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.