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Stratus Plastics International Plans Morgantown, Kentucky, Factory

Saturday, Aug 19, 2017

Stratus Plastics International Inc., an automotive and consumer goods supplier, will invest $4 million to locate a factory in Morgantown, Kentucky. The company plans to create 29 full-time jobs in Western Kentucky.

Stratus, a privately held Canadian company, will purchase a 165,000-square-foot facility in Butler County to house its first Kentucky operation. The facility will focus on supplying the automotive and appliance industries in the US Southeast and Midwest. Company leaders plan to expand thereafter, as the company looks to establish itself as a global leader in injection molding. The Morgantown facility will operate under the name Stratus Plastics KY LLC.

“Stratus Plastics is excited to be in Morgantown, Kentucky,” said Stratus Plastics Kentucky General Manager David Kondracki. “The city has been helpful in the form of business needs and resourceful in many ways. With the planned expansion for growth in the area, it will be a positive environment for employment and success.”

Stratus, based in Windsor, Ontario, supports multiple tier-one automotive suppliers and non-automotive customers as well. The company’s experienced management team brings direct knowledge of the industry and extensive research experience. Its Windsor operation employs more than 30 people and offers a wide range injection-molding abilities at its headquarters as well as state-of-the-art machining, 3D printing, robotics and auxiliary processing equipment.

“Our state’s leadership in the automotive industry is increasingly well recognized in North America and around the globe, as we continue attracting businesses like Stratus Plastics,” Governor Roy Bevin said. “The decision by Stratus executives to locate in Butler County further strengthens Kentucky’s manufacturing base. Its facility will be a great addition to the region’s economy and we look forward to seeing this growing company succeed.”

To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority in June preliminarily approved the company for up to $480,000 in tax incentives 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. In addition, Stratus can receive resources from the Kentucky Skills Network.

 

Source:areadevelopment.com

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