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CGS Machine & Tool expanding in Bowling Green By Crystal Staley/Jack Mazurak Frankfort, KY - Kentucky companies continue to create jobs for the commonwealth's skilled workforce, as 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. "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. Congratulations to CGS and the Bowling Green community for the newly announced jobs, and we look forward to similar announcements across the commonwealth for years to come." CGS plans to invest in upgrades at its Bowling Green operation in response to continued growth and its 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 would install new state-of-the-art equipment and conduct renovations of its facility to meet evolving customer demands. "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. We expect to not only see manufacturing growth, but additional high-end CNC equipment will allow us to serve a larger market." Founded in Russellville in 1994, CGS began in a 5,000-square-foot facility with five employees and a limited customer base. The company has since relocated to Bowling Green, where it now encompasses approximately 24,000 square feet at each of the two facilities, with around 50 employees and more than 150 customers throughout the Midwest and Southeast. To encourage the investment and job growth in the community, 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:
In addition, CGS can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. This story was posted on 2020-01-30 16:42:46
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