Russian bottle decorating and packaging company Westpack has announced plans to set up manufacturing operations in Covington, Kentucky, US, with an investment of $4.49m in the Commonwealth.
The Covington location will be at a 126,000ft2 facility, which will be machined and equipped sufficiently to provide short-run decorations for special events and promotions, besides bottle decorating and packaging.
Westpack managing director Simon Mnoyan said with decoration plants in Russia and Europe, expanding into the US market was a natural next step.
"And selecting the right state for our production was a function of customer logistics, business operating costs and quality of life. The Commonwealth of Kentucky provided and met all three requirements for our expansion," Mnoyan said.
The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.5m through the Kentucky Business Investment program, in order to encourage the investment and job creation in Covington.
With the performance-based incentive, the company can keep a part of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
