Friday, 03 14, 2014
Toyota, PTC Seamless, Custom Food win Trade & Industry Development ’Awards
FRANKFORT, Ky. – Trade & Industry Development, a leading magazine dedicated to site selection, has included three Kentucky companies, Toyota, PTC Seamless and Custom Food Products, in its ninth Annual CiCi (Corporate Investment & Community Impact) Awards.
The projects are among the top 30 economic development projects announced in 2013, and were selected from hundreds submitted from across the country.
“These awards not only recognize the growth and success of these companies, but they also honor the Commonwealth and our dedication to economic development,” said Gov. Steve Beshear. “From PTC Seamless in Hopkinsville, to Toyota in Georgetown, to Custom Food in Owingsville, these three distinct regions in Kentucky are showing their ability to earn national and international attention and recognition.”
The CiCi Awards program, created in 2006, highlights the largest corporate investments, but also recognizes projects that make the most notable impact on communities even though they may not involve large investments. Numerous criteria are considered for the Impact division, including new jobs created, current jobs retained, unemployment figures, income level of the region and plant closings.
“Kentucky’s achievement of being home to three companies that are recipients of the ninth Annual CiCi Awards from Trade & Industry Development magazine speaks volumes about the business climate in Kentucky,” said Scott Swoger, publisher of Trade & Industry Development magazine. “Having a company in the ‘Corporate Investment’ category plus two more in the ‘Community Impact’ category is an economic development achievement that should receive the full attention of corporate site selectors.”
Proving once again that Kentucky is a powerhouse in the global auto industry, Toyota Motor Manufacturing Kentucky (TMMK) will be the first U.S. production site for the Lexus ES 350 model, the top-selling Lexus sedan in the world. TMMK will produce about 50,000 Lexus vehicles a year starting in 2015. The project entails a $360 million investment and will create 750 new jobs in the Commonwealth. Toyota will invest an additional $171 million in other plant refurbishments.
“We deeply appreciate the tremendous support we have received from our community, from our local suppliers and business partners, and from Gov. Beshear and the Commonwealth of Kentucky to help bring the Lexus project to our Kentucky plant,” said Wil James, president of TMMK. “By building our vehicles where we sell them, we support our local economy, increase our overall investment, and ultimately, build better cars for our customers.”
PTC Seamless Tube Corp. plans to create up to 283 jobs in Hopkinsville, where the company expects to invest more than $102 million to establish a manufacturing operation. PTC’s renewed focus on Hopkinsville represents a shift in the company’s operations from producing more traditional mechanical tubular products toward producing seamless steel tubes for the energy industry. As part of this project, PTC will retrofit and expand a former PTC facility in Christian County.
“We are very pleased to be returning to Hopkinsville, where we have a long history of working with the community to create meaningful employment opportunities in manufacturing,” said Peter Whiting, chairman, president and CEO of PTC Group Holdings Corp.
Custom Food Products’ expansion will bring the total number of employees at its Owingsville facility to 250 and will allow the company to expand its services to the East Coast market. The investment will generate approximately $3 million in annual payroll, translating into $50,000 in annual occupational taxes and is expected to have a positive impact on Bath County’s unemployment rate. The company, a subsidiary of CTI Foods, manufactures processed beef, pork and chicken for packaged food manufacturers.
“CTI has been seeking to expand its Central and East Coast manufacturing presence for several years,” said Bobby Horowitz, president and CEO of CTI Foods. “With the acquisition of Custom Food Products last year, our way to the future became clear. As part of our investigation prior to purchasing Custom Food Products, we spent significant time in Owingsville and were very impressed with the attitude, skills and desire of current associates to make the business successful.”
For more on Trade & Industry Development’s CiCi Awards, visit www.tradeandindustrydev.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.