11 February 2013

Russian-based Westpack plans to invest $4.49 million and create 63 new jobs in Kentucky

- Tax incentives up to $1.5 million through Business Investment program

Covington, Ky. – 11 February 2013 – Russian-based Westpack, a bottle decorating and packaging company, plans to establish manufacturing operations in Covington, Kentucky. The project will create 63 new, full-time jobs and will represent a $4.49 million investment in Kentucky. 

Governor Steve Beshear welcomed Westpack to Kentucky and applauded today’s announcement. “The Commonwealth is thrilled to partner with Westpack to see the creation of more than 60 jobs and an investment of nearly $4.5 million,” said Gov. Beshear. “We’re especially proud that a company from Russia has chosen Kentucky to do business, a testament to the ideal logistics and strategic location here in the Commonwealth.” 

Kentucky’s foreign direct investment continues to grow, with approximately 420 internationally based companies from 30 nations in the Commonwealth, employing nearly 80,000 people. 

“Westpack is in the business of grabbing attention, and they certainly are turning heads here, choosing northern Kentucky over anywhere in the world,” said Lt. Gov. Abramson. “This is a tremendous day for this area and the Commonwealth as a whole, showing Kentucky makes a perfect home for major companies from across the globe.”

Westpack is a new expansion of UniPack Group, a full service glass container decorating and packaging company serving the alcohol beverage industry since 1995. The Covington location will be at a 126,000-square-foot facility on West 43rd Street. In addition to bottle decorating and packaging, the facility will be sufficiently machined and equipped to provide short-run decorations for special events and promotions. 

“With decoration plants in Russia and Europe, expanding into the U.S. market was a natural next step,” said Westpack Managing Director Simon Mnoyan. “And selecting the right state for our production was a function of customer logistics, business operating costs and quality of life. The Commonwealth of Kentucky provided and met all three requirements for our expansion. We would like to express our gratitude to the Commonwealth and the city of Covington for guidance and support in our endeavor.” 

To encourage the investment and job creation in Covington, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $1.5 million 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 assessments by meeting job and investment targets. 

Source: Kentucky Government