BOWLING GREEN, Ky. (WBKO) -- CGS Machine & Tool Inc., a parts producer for manufacturers, expects to create up to 15 full-time jobs with a $2.75 million investment at its Bowling Green facility.
CGS said it plans to invest in upgrades at the Bowling Green operation in response to continued growth and a recently approved ISO certification.
The certification will allow the company to boost its presence throughout the US, specifically within the automotive industry. With this project, CGS plans to install new state-of-the-art equipment and conduct renovations of its facility to meet evolving customer demands.
“It is great to see a Kentucky-based company like CGS Machine & Tool further its commitment to the local workforce and remain in our state as its business continues to grow,” Gov. Andy Beshear said. “We at the state want to ensure continued job growth throughout Kentucky, and the success of existing companies such as CGS is crucial to achieving that goal."
Sen. Mike Wilson, of Bowling Green, noted the strong reputation of CGS within the state. “I cannot overstate the importance of CGS Machine & Tool Inc. and their contribution to the commonwealth,”
The Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $250,000 in tax incentives based on the company’s investment of $2.75 million and annual targets of:
· Creation and maintenance of 15 Kentucky-resident, full-time jobs across 10 years
· Paying an average hourly wage of $26 including benefits across those jobs
“CGS Machine & Tool has a number of new opportunities. We’ve been blessed since deciding to locate in Bowling Green,” said Steve Allen, CEO of CGS. “I’m excited about what the next 5 years will bring for this company."