Germany-based Bilstein Cold Rolled Steel began construction of a $130 Million, 250,000 square foot, manufacturing center at Transpark in Bowling Green, Kentucky.
The Bilstein Cold Rolled Steel LP facility will further accelerate our company’s global growth initiatives while providing our customers with demanding cold rolled strip products of the highest quality.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $3.5 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
Additionally, Bilstein was approved by KEDFA for $1.4 million in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
|Company Name||Bilstein Cold Rolled Steel|
|Location||Bowling Green, Kentucky|
|Type||New Manufacturing Center|
|Estimated Cost||$130 Million|
|Facility Area||250,000 Square Foot|