Kentucky Gov. Steve Beshear touted economic development news about three plastics-related companies in Henderson, Ky., during a July 14 announcement at Henderson Community College.
Two companies injection mold maker Sunrise Tool & Die Inc. and Matrix Composites Inc., which makes woven and knitted reinforcements used in the composites industry are expanding their existing operations in Henderson. Custom profile extruder Legacy Plastics Inc. is relocating from Evansville, Ind., just across the Ohio River, to Henderson.
Beshear said the projects will create as many as 30 new jobs and retain 32 current jobs in Henderson.
Here are details about the three companies:
* Legacy Plastics President Roger Courtney said that, by the end of August, the extrusion company will move from its 17,500-square-foot building in Evansville to a 25,000-square-foot factory in Henderson being vacated by Matrix Composites. Matrix also is moving to larger digs.
We looked at buildings around this area for about a year and couldn't find a suitable building, Courtney said in a telephone interview from the Evansville plant. An attractive lease and electricity prices about 30 percent lower also lured him to Henderson.
Legacy Plastics, which employs 15 people, extrudes custom profiles for the appliance and point-of-purchase display markets. Courtney said he plans to add some downstream equipment during the move.
* Sunrise Tool & Die is investing $2.5 million to boost crane capacity and build an addition with a taller roof, to handle larger injection molds.
Sunrise currently has a 5-ton crane. Spokesman Drew Littrell said the toolmaker will add a second crane of 15 or 20 tons. To accommodate the crane, the company will build a 6,600-square-foot addition with a roof raised as much as 8 feet, depending on the crane size, he said.
Customers want Sunrise to make larger molds, said Littrell, who works in sales. He is the son of owners Darrell and Lorna Littrell.
The expansion and bigger crane will help Sunrise retain its 32 employees. The Kentucky Economic Development Finance Authority has given preliminary approval for tax incentives of up to $250,000 through the Kentucky Reinvestment Act. Last summer, Beshear expanded the program, which helps companies that make capital investments in Kentucky facilities remain competitive.
* Matrix Composites now operates out of two buildings in Henderson, each measuring 25,000 square feet. The company, which makes glass reinforcements for military, automotive, construction, recreational and energy-related projects, is buying an existing 157,000-square-foot building.
Matrix currently employs 40 people in Henderson and hopes to create 10 new jobs here, a company spokesman said. The investment will total $3.1 million, he said.
Matrix Composites also has a plant in Seguin, Texas.
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