Sumitomo breaks ground on expanded Lexington facility
Sumitomo Electric Wiring Systems Inc. broke ground Monday on a new 440,000-square-foot facility in Lexington.
The company, which supplies wire harnesses, components and electronics to the automotive industry, will almost double its Lexington footprint with the opening of the new facility on Remington Way, near Citation Boulevard. The project represents an $8.5 million investment by the company and is expected to add 10 new jobs to its local workforce of 28 employees.
Sumitomo plans to consolidate its two existing Lexington operations, in Bluegrass Business Park and on Baker Court, at the new facility. The company plans to complete its move to the new 30-acre site by the end of 2015.
“In addition to the area’s strong and talented workforce, the proximity to key automotive customers provides a strategic location so that we can continue to grow our operations,” said Masayoshi Fuse, president of Sumitomo Electric Wiring Systems Inc. North America. “Without the generous support from the state, our local government and community, today would not have been a reality. We’re excited to be growing towards our goal of being the leading wire harness supplier in North America.”
Sumitomo has received preliminary approval for tax incentives of up to $225,000 from the Kentucky Economic Development Finance Authority through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessment by meeting job and investment targets.
Japan-based Sumitomo is a global supplier of innovative electrical distribution systems to automobile manufacturers. The company’s U.S. headquarters is located in Bowling Green, Ky., and the manufacturer also has Kentucky facilities is Edmonton and Scottsville. Sumitomo has operated in Kentucky since 1985.