Industrial Automation to invest, employ in Kentucky
Industrial Automation has outgrown its current facility in Bowling Green and needs more operating space. Due to time constraints and a lack of available space in the area, Industrial Automation began looking at other options, including possibly moving its facility and eight jobs to another state.
Turns out, a new facility wasn't too far from Industrial Automation's own backyard. The company discovered a vacant 23,000-square-foot building in Franklin, about 20 miles south of Bowling Green. The new facility will not only support the company's current operations, but also allow for the creation of 26 new jobs and a $1.8 million investment in the Commonwealth.
The project is the result of a partnership between Industrial Automation, Simpson County officials and the Bowling Green Area Chamber of Commerce. Industrial Automation LLC manufactures custom assembly and automation equipment.
To encourage the investment and job creation in Simpson County, the Kentucky Economic Development Finance Authority 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. ■