Summit Polymers Inc. an automotive supplier is planning to construct $37.5 million manufacturing plant in Anderson County, Kentucky. In addition, the new facility will also create 218 full-time jobs in the county.
$37.5 million investment
Summit Polymers Inc. is a designer and manufacturer of automotive interior components. Currently, SPI is operating from two locations in Kentucky for more than 30 years. They have put forward the plans to build a new 140,000 square feet facility on approximately 40 acres area along the U.S. Route 127 Bypass in Lawrenceburg. The plant will conduct operations including plastic injection molding, paint applications and assembly operations. Moreover, the new location will support the company’s business with automotive manufacturers in Kentucky and neighboring states. In addition, it will also support the prospects for future expansion. The company is planning to start work on the project and completion is scheduled in June 2023.
“Our roots in Kentucky run deep. This new Lawrenceburg facility reinforces our commitment to the longstanding partnerships we’ve shared. The Commonwealth of Kentucky, Anderson County and City of Lawrenceburg have been exceptional in their support for this new project, and we are thankful for this opportunity to conduct business in Lawrenceburg.” Scott McAllister, SPI’s director of new business development and material systems expressed his views in a statement.
Employment opportunities and wages
SPI are in the business for the past 50 years and expanding their business since. Currently, the local automotive supplier is employing over 3,000 employees and 15 locations worldwide. The new facility will also create plenty of new jobs opportunities in the Anderson area. The Kentucky Economic Development Finance Authority (KEDFA) approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. Hence, the agreement will bind the company to create 218 full-time jobs for Kentucky residents over the next 10 years. Moreover, the company will pay an average hourly wage of $23.50 including benefits across those jobs. In return, SPI will get up to $2.8 million in tax incentives based on the company’s investment of $37.5 million.
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