FRANKFORT, Ky. (May 20, 2016) – Gov. Matt Bevin joined Thailand’s ambassador to the U.S., executives from Thai Summit America Corp. and local officials in Bardstown this morning to break ground for the automotive supplier’s $110 million-plus facility that will create 216 full-time positions.
The Nelson County plant, the company’s first in Kentucky, will produce stamped and welded aluminum assemblies for Ford Motor Co.
The company selected a site in the Nelson County Industrial Park for its 220,000-square-foot facility. The project’s first phase is scheduled for completion at the end of 2016. At that point, the factory will begin delivering aluminum assemblies to Ford’s Kentucky Truck Plant in Louisville. Thai Summit’s investment also includes the purchase of presses and other equipment.
“We look forward to establishing Thai Summit’s first Kentucky facility and supplying our customer, Ford Motor Co., with the quality products that it has come to expect and rely upon from us,” said Chumpol Rangson, president and CEO of Thai Summit America Corp. “Our new location will also help us take advantage of other business opportunities in Kentucky’s automotive manufacturing industry.”
Established in Howell, Mich. in 1985, Thai Summit America Corp. – a Thai Summit Group company – supplies Ford, Chrysler and other automotive manufacturers. It offers remote laser welding, 3-D white-light measurement and high-strength steel capabilities. Thai Summit currently operates facilities in North America and Asia.
His Excellency Pisan Manawapat, ambassador of the Kingdom of Thailand to the U.S., joined in the groundbreaking. Thai Summit’s facility will be Kentucky’s first Thai-owned manufacturing plant.
Sen. Jimmy Higdon, of Lebanon, said he has looked forward to welcoming Thai Summit to Nelson County.
“Thai Summit’s move into Nelson County has been much anticipated, and I am excited to officially welcome them to our community,” Sen. Higdon said. “I congratulate them on their successes and look forward to their positive contribution to our region’s automotive industry.”
Rep. David Floyd, of Bardstown, said Thai Summit’s investment will be a major benefit to local residents.
“Bardstown’s future shines even brighter today,” Rep. Floyd said. “Thai Summit’s substantial investment will reap enormous dividends for Nelson County’s families. I’m proud of our local industrial recruitment team, and grateful to Gov. Bevin’s administration for their generous support to Nelson County’s economic development.”
Bardstown Mayor John Royalty said Thai Summit is a perfect fit for the community and that he looks forward to working with the company.
“Thai Summit has a long history of success as a supplier within the automotive industry, and that makes them a perfect fit for Bardstown,” Mayor Royalty said. “Our proximity to Ford Motor Co., along with the countless other benefits of locating in our community, give me confidence that this relationship has a long, bright future in the years ahead.”
Nelson County Judge-Executive Dean Watts noted the sizable investment and said he is proud to welcome Thai Summit to the region.
“The substantial investment and projected 216 jobs associated with Thai Summit’s location in Nelson County is the latest evidence that this is a great place to do business,” Judge Watts said. “I am proud to welcome Thai Summit to Nelson County and wish them the best of luck in growing their operation.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in March preliminarily approved the company for tax incentives up to $5 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
Additionally, KEDFA approved Thai Summit for up to $1 million 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.
Thai Summit can also 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 5,600 Kentucky companies.
For more information on Thai Summit, visit www.ThaiSummit.us.
A detailed community profile for Bardstown (Nelson County) 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.