Topura America Fastener Expands in Bowling Green, KY
Gov. Steve Beshear today joined company and community leaders in Bowling Green to announce the expansion of Topura America Fastener.Â A manufacturer of automotive and industrial fasteners, Topura America Fastener will add 30 new jobs in phases over the next three years, bringing their total employment at the Bowling Green plant to 95.Â Additionally, the company will invest $9.34 million as a result of the expansion and continual improvement in processes and technology.
â€śTopura America Fastenerâ€™s expansion is a good example of Kentuckyâ€™s strength in the automotive supplier industry,â€ť said Gov. Beshear. â€śThe creation of 30 new jobs and a multi-million dollar investment that will more than double the size of the companyâ€™s Bowling Green plant will have a significant impact on the entire region.â€ť
Topura America Fastener will be adding 96,000 square feet to its existing 71,966 square-foot facility.Â The company will also install new equipment and make other improvements that will allow them to increase manufacturing capabilities and improve product flow.
â€śTopura America Fastener is extremely excited about todayâ€™s announcement and for the opportunity of organizational growth in a challenging economic time period,â€ť said Darrell Oakley, Topura executive vice president. â€śThe expansion will secure an increase in both job opportunities and process investments for today and long term. We appreciate everyoneâ€™s support during this process, especially that of Governor Beshear, the Kentucky Cabinet for Economic Development and the Bowling Green Area Chamber of Commerce.â€ť
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Topura America Fastener for tax incentives up to $675,000 through the Kentucky Business Investment program.Â The incentive can be earned over a 10-year period through corporate income tax credits and wage assessments.
KEDFA also approved the company for up to $75,000 in tax benefits through the Kentucky Enterprise Initiative Act, an incentive program that allows approved companies to recoup Kentucky sales and use tax on the cost of construction materials, building fixtures and equipment used for research and development.
â€śBowling Green congratulates Topura on their announcement today,â€ť said Bowling Green Mayor Elaine Walker. â€śTheir expansion reflects the great working environment and strong work ethic we enjoy here in South Central Kentucky.â€ť
â€śItâ€™s another great day here in South Central Kentucky because of todayâ€™s announcement,â€ť said Warren County Judge Executive Michael Buchanon. â€śWe thank Topura for their continued commitment to doing business here.â€ť