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Mon July 8, 2013
Riken Elastomers Breaks Ground on Expansion
A Hopkinsville automotive manufacturer is adding three production lines and six jobs in a 20,000 square foot expansion.
Riken Elastomers is investing $7 million in the project.
The Kentucky Economic Development Finance Authority approved Riken for up to $50,000 in tax benefits through the Kentucky Enterprise Initiative Act. The program 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.
The Japanese-owned company manufacturers custom plastic compounds for the automotive industry.