FRANKFORT, Ky. (WTVQ) – Gov. Matt Bevin announced specialty printing materials manufacturer Armor USA Inc. plans to add 36 jobs with a $3.3 million expansion of its facility in Boone County.
Manufacturing excellence continues to be a hallmark of Kentucky’s economy, and this investment is further proof of the tremendous growth we are seeing throughout our state, Gov. Bevin said. Armor USA Inc. will significantly increase its workforce with this move, providing strong opportunities for Kentuckians in the process. The company has served Northern Kentucky well for the past two decades, and we look forward to their continued success in the years ahead.
The expansion will add 32,000 square feet of office and storage space, increasing the facilitys total footprint to more than 113,000 square feet. It will also free up room in the current facility to expand manufacturing and logistics capabilities. Company leaders expect to increase production by more than 60 percent between 2020 and 2030 as a result of the expansion, allowing Armor to extend its market presence.
Armor USA manufactures and sells thermal-transfer ribbons used for printing variable information onto labels and packaging. The company grew from eight team members in 1999 to 87 today, nearly 60 of whom are Kentucky residents. The company is a subsidiary of France-based ARMOR, an international manufacturer with nearly a century of experience in printing and coating technologies.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved the company for tax incentives up to $250,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of the new tax revenue it generates over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, Armor USA can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
For more information on Armor USA Inc., visit www.inkanto.com.
A detailed community profile for Boone County can be viewed here.
Information on Kentuckys 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, follow on Twitter and watch the Cabinets Now You Know video on YouTube.