(KEDFA) preliminarily approved Ventra Plastics for tax incentives up to $500,000 through the Kentucky Business Investment program. The KEDFA also approved the company for tax benefits up to $60,960 through the Kentucky Enterprise Initiative Act (KEIA).
Kentucky Governor Steve Beshear joined community leaders and company executives from Ventra Plastics Russellville to announce the expansion at its Logan County facility. On Feb. 8, Beshear attended a similar event for Japanese automotive supplier DENSO Air Systems, when it announced that it would locate a new manufacturing operation in Hopkinsville, KY. The Japanese-owned company is planning a phased investment totaling more than $4.2 million that will initially create 80 new jobs, growing to 105 over the next several years.
Ventra Plastics, which produces interior and exterior automotive parts, including accelerator pedal stops, fenders, front-grill covers, and tailgate liners, says it will use the money to replace equipment, increasing efficiencies of existing equipment, and add new technology to enhance production processes.
Ventra Plastics' customer base includes Ford, Toyota, Honda, Chevy, and other original equipment manufacturers. The 105,000-sq-ft plant, opened in 1992, sits on 25 acres and includes full assembly, an in-house lab, injection molding, rigid fixture testing, vibration welding, and stake assembly. Ventra Plastics is a subsidiary of the Flex-N-Gate Corp., which purchased the Ventra Group, consisting of 22 facilities in North America, South America, and Europe, in the early 2000's.