The Richmond Register

Local News

September 26, 2012

Canadian firm bringing 45 jobs to Richmond

By Crystal Wylie Register News Writer

RICHMOND — A Canadian company, Thunder Tool & Manufacturing Ltd., has purchased a 30,000 square-foot facility in Richmond and plans to create 45 full-time jobs, investing a total of $2.2 million in the project, announced Gov. Steve Beshear Tuesday morning.

Thunder Tool will occupy the former Michadi plant, a tool and die company that closed two or three years ago located in Richmond Industrial Park South II off Duncannon Lane, said Mayor Jim Barnes.

The new company should be open sometime before the new year and will employ workers of all skill levels, he said.

“They’re putting people to work. That’s what we want,” Barnes said. “We’re just glad they’re coming.”

Thunder Tool creates automotive components and non-automotive components such as barbecue burners, appliance and furniture parts and electrical boxes.

Thunder Tool began in 1965 as a small tool and die shop and has grown into one of the leading metal stamping companies in Canada, according to a press release from the Kentucky Cabinet for Economic Development.

To encourage job creation in Richmond, the Kentucky Economic Development Finance Authority has given preliminary approval for up to $650,000 in tax incentives through the Kentucky Business Investment program, the release stated.

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, according to the release.

However, the Richmond community itself is a business attraction because of “the proximity of what we have to offer,” Barnes said.

“We have the interstate, the railroad, an industrial park,” the mayor said.

Such advantages are “way above average.”

More information about Thunder Tool is available at www.thundertool.com. To apply for a job at Thunder Tool, email jobs@thundertool.com.

Crystal Wylie can be reached at cwylie@richmondregister.com or 623-1669, ext. 6696.

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