KY: TMS Automotive to Invest $5M, Locate in Bowling Green
4 Sep, 2015
A Kentucky company in the automotive industry is expanding with a new facility that will allow it to work more closely with its customers. Governor Steve Beshear announced TMS Automotive LLC. is locating a facility at the Kentucky Transpark in Bowling Green.
TMS Automotive offers industrial clients a variety of specialized services, including parts washing; rust inhibitor applications; parts sorting; packaging; warehousing and distribution; and minor contract assembly. TMS Automotive will create 38 jobs and invest $5 million into the Bowling Green project.
“Kentucky has a vibrant automotive industry, contributing some $14 billion to Kentucky’s economy, and companies like TMS Automotive are an essential part of that,” said Gov. Beshear. “I want to congratulate TMS Automotive on its growth, as another example of a successful automotive company in Kentucky.”
Kentucky’s ties to the auto industry continue to strengthen with expansions like TMS Automotive. Over the past five years, 360 motor vehicle-related projects have been announced in Kentucky, representing more than 20,000 new jobs and more than $5 billion in new investment.
Kentucky’s 473 motor vehicle-related establishments employ nearly 86,000 people, and two-thirds of Kentucky’s counties have at least one auto-related employer in their community. The industry contributes $14.3 billion to Kentucky’s economy, meaning roughly $1 out of every $13 in the state’s economy is tied to the automotive sector.
Adding a facility in Bowling Green will put TMS Automotive in closer connection with Bowling Green Metalforming and Cannon Automotive, allowing those businesses to curtail shipping costs. With TMS Automotive’s Elizabethtown location operating at full capacity, the additional facility also will allow the company to take on a much larger demand for products.
“We are excited about the opportunity to move closer to our customers in Bowling Green and to foster a relationship with the community,” said Michael Hall, president of TMS Automotive. “We look forward to a bright future and the growth this new location will allow.”
TMS Automotive has served Kentucky since 2007 as a distribution provider and materials handler for automotive parts. It has specifically serviced Ford Motor Company, Nissan, Mercedes, Bowling Green Metalforming (Magna), Metalsa, Cannon Automotive, Shiloh Industries, Artiflex, Tower Automotive and TAF by assisting them with needs related to parts washing and the application of rust inhibitor.
Currently, TMS Automotive washes parts at its Elizabethtown facility for suppliers in Kentucky and across North America. The company is also an active member of the Kentucky Automotive Industry Association (KAIA).
“I am pleased that TMS Automotive has chosen to expand in Bowling Green,” said Sen. Mike Wilson, of Bowling Green. “Our industrial sector continues to grow and benefit companies through logistics, manpower and the quality of life Warren County offers.”
“TMS is a vital player in the automotive industry in Kentucky and a welcome addition to the Bowling Green business community,” said Rep. Jody Richards, of Bowling Green. “This expansion will not only add new jobs, it will make it easier and cheaper for existing Bowling Green companies to do their work. I applaud TMS, the Governor, our local officials and workers for making Kentucky and Bowling Green a great place to do business.”
“Bowling Green has long been known as the home to America’s top sports car, the Corvette. But the region is also becoming known as a national leader in the automotive manufacturing industry,” said Rep. Michael Meredith, of Brownsville. “I am pleased to see the confidence of TMS Automotive in our area workforce and economy as part of their decision to expand operations.”
“Not only does the Transpark attract new companies to our region, but it’s the expansion of our existing industries that truly speaks to the benefits of South Central Kentucky,” said Bowling Green Mayor Bruce Wilkerson. “Our automotive manufacturing community is growing because of the confidence and investments of the current businesses. We congratulate TMS on their decision to locate here and send well wishes for their continued growth.”
“The new location of TMS Automotive will create new jobs and new opportunities for our community,” said Warren County Judge-Executive Mike Buchanon. “This company has been a leader in their industry, and we are excited about the benefits and growth this operation will bring to our established automotive manufacturing base in South Central Kentucky.”
As a member of KAIA, established in 2014, TMS Automotive is part of a partnership between Kentucky manufacturers, suppliers and supporting entities. The industry-led association plays a vital role in addressing the challenges, solutions and opportunities facing the industry.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $400,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, TMS Automotive was preliminarily approved by KEDFA for $25,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
TMS Automotive also is eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 4,100 Kentucky companies.
For more information on TMS Automotive, visit www.transportationsystems.org/tmsautomotive.asp.
A detailed community profile for Bowling Green can be viewed here.
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 or follow on Twitter. Watch the Cabinet’s “This is My Kentucky” video on YouTube.