Business and the Economy
Japanese Company Locates in Beaver Dam, Provides Jobs
Daicel Safety Tube Processing, a Japanese automotive components manufacturer, will locate a new manufacturing facility in Beaver Dam, creating 25 new jobs. The $8.8 million investment represents the third Daicel plant to locate in Beaver Dam, bringing the company’s total Kentucky employment to 525.
Daicel Safety Tube Processing, which will manufacture inflator components used in the automotive industry, will construct a new 35,000-square-foot facility in the Bluegrass Crossings Business Centre. Construction is expected to begin immediately and be completed by June 2012.
The Kentucky Economic Development Finance Authority preliminarily approved Daicel Safety Tube Processing for tax incentives up to $350,000 through the Kentucky Business Investment program.
Of the nearly 400 facilities in Kentucky with foreign ownership, more than 150 are owned by a Japanese parent company. These Japanese-owned facilities represent nearly 35,000 employees across the state.
“The citizens of Ohio County welcome Daicel Safety Tube Processing to the community,” David Johnston, Ohio County Judge-Executive, said. “We appreciate the confidence that the company has in our workforce, and our workforce welcomes the 25 new jobs that will be created with open arms. It is a pleasure to work with Gov. Beshear and his staff to bring prosperity to Ohio County.”