KY State Seal
Commonwealth of Kentucky
Cabinet for Economic Development
Steve Beshear
Governor
Old Capitol Annex
300 West Broadway
Frankfort, KY 40601
Larry Hayes
Secretary


September 25th 2012
For Immediate Release
 
Mandy Lambert
502-564-4886

Kerri Richardson
502-564-2611

Gov. Beshear Announces Thunder Tool to Establish Manufacturing Operations in Richmond, Create 45 Jobs
Metal stamping company to invest $2.2 million in the Commonwealth

FRANKFORT, Ky. (Sept. 25, 2012) – Governor Steve Beshear today announced Thunder Tool & Manufacturing Ltd. has purchased a 30,000-square-foot facility in Richmond. The company plans to create 45 new, full-time jobs and invest $2.2 million in the project.

“Thunder Tool is a tremendous success story out of Canada, and we’re thrilled it chose Kentucky as the place to begin its growth in the United States,” said Gov. Beshear. “We’re proud to partner with Thunder Tool and welcome 45 new jobs and a multi-million dollar investment in the Commonwealth.”

Thunder Tool began in 1965, as a small tool and die shop and has grown into one of the leading metal stamping companies in Canada. The Thunder Tool facility will be in the Richmond Industrial Park South II, off Duncannon Lane.

Kentucky is home to more than 420 internationally based companies from 30 nations, employing approximately 76,000 people.

“When the opportunity arose for us to put our facility in the United States and expand our presence in North America, we were excited that Richmond, Kentucky had everything we were looking for,” said President and CEO of Thunder Manufacturing USA Inc. Singh Hansra. “Richmond has a strategic location, sound workforce and business-friendly local government.”

To encourage the investment and job creation in Richmond, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $650,000 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.

“I am pleased to welcome Thunder Tool to Richmond and to the United States,” said Sen. Jared Carpenter, of Berea. “The people of our community are hard-working and hospitable. I know we can offer a productive partnership.”

“I think it says a lot about our community’s commitment to economic development when a company like Thunder Tool chooses Richmond for its first North America location,” said Rep. Rita Smart, of Richmond. “I want to thank its leaders for making that decision, and I want to say how much I appreciate the work done by our local and state officials to help make this possible.”

“On behalf of the city of Richmond, we are excited to welcome Thunder Tool to Kentucky and Madison County,” said Richmond Mayor Jim Barnes. “We are glad they chose our city to expand their business, and we wish them all the success.”

“Madison County is thrilled that Thunder Tool will be locating in Richmond Industrial Park South II,” said Madison County Judge-Executive Kent Clark. “I know that our citizens will be excited about the various opportunities that 45 new jobs will bring to our community. Madison County is also appreciative of all the efforts put forth by the city of Richmond and the Commonwealth of Kentucky that helped to make this project a reality for the benefit of our region.”

For more information on Thunder Tool, visit www.thundertool.com. To apply for a job at Thunder Tool, e-mail jobs@thundertool.com.

Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky.

A detailed community profile for Richmond (Madison County) can be viewed at http://www.thinkkentucky.com/edis/cmnty/index.aspx?cw=001.

The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2010 totaled more than $2 billion with the creation of nearly 11,900 new jobs. Information on available development sites, workforce training,incentive programs, community profiles, small business development and other resources is available at www.ThinkKentucky.com.

 

 

Kentucky Cabinet for Economic Development   Old Capitol Annex  300 West Broadway   Frankfort, KY 40601
502-564-7140 (local)   800-626-2930 (toll free)