Japanese manufacturer eyeing Corbin as site for possible facility

A Japanese manufacturing company has been approved for $600,000 worth of state tax incentives and negotiations are underway that could lead to it locating a facility in Corbin in the near future.

Last week, the Kentucky Economic Development Finance Authority (KEDFA) Board OK’d the incentives for Kowa Kogyosho Co. Ltd. The company provides “hot-dip galvanized coating and other surface treatments and metal working…” It is planning to open its first North American operation, and Corbin is tops on its radar.

“It’s not definite. We are still in negotiations with them, but it is a project that is moving forward to hopefully become a reality,” said Bruce Carpenter, Director of the Corbin Economic Development Agency.

“The preliminary [tax] incentives are very important.”

Carpenter said the company is considering operating out of a vacant spec building in the Southeastern Kentucky Regional Business Park, located off the Corbin Bypass. The building, which was constructed in 2008, is 54,000 square feet and can be modified to suit just about any industrial activity.

According to KEDFA, Kowa Kogyosho plans to hire as many as 30 employees who would make about $17 per hour, including benefits.

Carpenter said the company’s products are “related to the automotive industry.”

Corbin Mayor Willard McBurney was cautiously optimistic about the prospect of the company locating a facility in Corbin.

“I know Bruce has been working with them on it for quite awhile,” McBurneys said. “It’s a positive step that they OK’d those incentives. I’m glad to hear that. It’s a very positive development.”

Carpenter said he’s hoping the company’s future in Corbin will become clearer some time this summer.