FRANKFORT Ky. (July 30, 2015) – You likely already have their products in your home. Now they’re calling Kentucky home. Governor Steve Beshear today announced Jacobs & Thompson Ltd. is locating in Wurtland in Greenup County.
The company, which produces custom foam, adhesive, film and fabric systems, will create 15 jobs and invest nearly $5.4 million into the project.
“I am always proud when a company locates in the Commonwealth, and we are happy to welcome Jacobs & Thompson to eastern Kentucky,” Gov. Beshear said. “We look forward to watching the company grow in this region.”
Jacobs & Thompson will be moving into a more than 40,800-square-foot facility in Wurtland and will be purchasing state-of-the-art equipment that will improve production lead times and delivery times for customers.
“They say people make all the difference, and I can tell you that people that work with Boyd and Greenup county and the Kentucky Cabinet for Economic Development are the reasons why we have invested in Kentucky,” said Riley Brand, corporate development manager for Jacobs & Thompson. “The residents of Kentucky should be very proud of this group. Running a business is difficult, and it’s nice when you get people who know how to support you. We were also very impressed with Governor Beshear and his team and that fact that they made a trip to our head office in Toronto, Canada, to inform us about the benefits of investing in Kentucky.”
Jacobs & Thompson was established in 1947 and has grown into one of North America’s leading splitters and laminators of customized foam parts. The company currently has four facilities, three of which are located in the province of Ontario, Canada – Toronto, Burlington and Barrie.
“I am pleased that Jacobs & Thompson is opening a facility and investing in the Wurtland community,” said Sen. Robin Webb, of Grayson. “This will create new job opportunities and provide a healthy economic boost to Greenup County and the surrounding area. It speaks highly of our dedicated workforce that this company is willing to make this investment.”
“I appreciate the good work of Kentucky's economic development cabinet as they work with businesses who seek to locate in Kentucky and administer the economic development incentives passed by the state legislature,” said Rep. Tanya Pullin, of South Shore. “The good workforce in Greenup County is a plus for businesses who consider locating facilities in our area. Greenup County has a very diverse economy, and manufacturing plays a key role. Jacobs & Thompson will add to the manufacturing base of the local economy.”
“Greenup County is proud to welcome Jacobs & Thompson to their new Kentucky home,” said Greenup County Judge-Executive Bobby Carpenter. “This is another example how our people, location and commitment to economic development have created a partnership in development.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $150,000 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.
In addition, Jacobs & Thompson is eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 4,100 Kentucky companies.
For more information on Jacobs & Thompson, visit www.foamparts.com.
A detailed community profile for Boyd and Greenup counties can be viewed here.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2015 totaled a state record $5.1 billion, spurring more than 16,000 projected new jobs. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.