Business and the Economy
Canadian Firm to Open in Richmond
FRANKFORT Ky. (Sept. 25, 2012) – 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,” Gov. Steve Beshear said in a statement.
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, according to a news release from the governor's office. 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,” President and CEO of Thunder Manufacturing USA Inc. Singh Hansra said in a news release. “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.
“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.”