Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster
Davis Motor Sales banner ad

PTC Seamless Tube Corp. to Establish Manufacturing Operations in Hopkinsville

ptc alliance 300HOPKINSVILLE, Ky. (8/29/13) – Governor Steve Beshear today announced PTC Seamless Tube Corp., a subsidiary of PTC Group Holdings Corp., plans to create up to 283 jobs in Hopkinsville, where the company expects to invest more than $102 million to establish a manufacturing operation.
 
“With 283 new jobs and more than $102 million in investment, PTC Seamless Tube Corp. will have a long-lasting impact on the Hopkinsville community and the Commonwealth as a whole,” said Gov. Beshear. “Kentucky’s high quality workforce and ideal strategic location will play key roles in building a solid future for PTC in the Commonwealth.”
 
PTC’s renewed focus on Hopkinsville represents a shift in the company’s operations from producing more traditional mechanical tubular products toward producing seamless steel tubes for the energy industry, such as oil country tubular goods (OCTGs), which include high strength tube products used in oil and gas wells and certain other industrial applications.
 
Another subsidiary of PTC Seamless’ parent company formerly operated a manufacturing facility in Hopkinsville that produced tubular goods primarily for the automotive industry. PTC’s parent company was forced to shift its manufacturing closer to its customer base, and consequently decided to close its Hopkinsville facility.
 
As part of this project, PTC will retrofit and expand the former Hopkinsville facility, which will ultimately include approximately 256,000 square feet of building area. The project will involve the acquisition of property adjacent to the existing site, re-working the layout of the facility and the installation of manufacturing equipment.
 
“We are very pleased to be returning to Hopkinsville, where we have a long history of working with the community to create meaningful employment opportunities in manufacturing,” said Peter Whiting, chairman, president and CEO of PTC Group Holdings Corp. “We are also grateful for the help and support we received from Gov. Beshear and the team at the Cabinet for Economic Development, who helped us as we went through the process of analyzing our options for the relocation of our business expansion.”
 
To encourage the investment and job creation in Hopkinsville, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $12 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.
 
KEDFA also approved PTC for tax benefits up to $500,000 through the Kentucky Enterprise Initiative Act, which 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.
 
“I am thrilled that PTC Group Holdings Corp. is making a return to Hopkinsville’s strong industrial community. PTC Seamless Tube’s decision to retrofit its former Hopkinsville facility to accommodate the growing market for tubular goods also shows the value of businesses investing in Hopkinsville,” said Sen. Whitney Westerfield, of Hopkinsville. “As we continue to develop a skilled, educated workforce and strengthen public safety, Hopkinsville becomes an increasingly attractive place for businesses to call home.”
 
“This is a great day for our community on several fronts, beginning with the sizeable investment and the significant addition of these new jobs,” said Rep. John Tilley, of Hopkinsville. “It also means a lot to see one of our existing facilities being re-purposed in such a positive way. I really appreciate PTC’s decision to take this step, and that our local and state economic development officials could work together to help make this happen.”
 
“We are pleased that PTC Seamless Tube Corp. has made the decision to bring this new project to the facility in Hopkinsville,” said Hopkinsville Mayor Dan Kemp. “We believe bringing this new business into our community is a testament to the support we give to local businesses. We are very proud of the confidence PTC has in growing their operation here.”
 
“PTC is making a significant investment in our community,” said Christian County Judge-Executive Steve Tribble. “This translates into quality jobs for our citizens and a tremendous impact on Christian County and the region.”
 
“TVA congratulates PTC Seamless Tube Corp. on its announcement to locate company operations in Hopkinsville, Kentucky,” said John Bradley, TVA senior vice president of Economic Development. “TVA and Pennyrile Rural Electric Cooperative are pleased to partner with the Commonwealth of Kentucky, South Western Kentucky Economic Development Council and other local community leaders to assist PTC as it makes investments, adds new jobs and continues to grow in the community.”
 
For more information on PTC, visit www.ptcalliance.com.
 
Christian County has also been certified by the Kentucky Workforce Investment Board as a Work Ready in Progress Community. The certification is an assurance to business and industry that the community is committed to providing the highly skilled workforce required in today's competitive global economy.
 
SurfKY News
Information provided by the office of Gov. Steve Beshear

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

In Other News...

Rowdy Rescue Offers Tail Waggin' Adoptions, K9 Easter Egg Hunt

HOPKINS COUNTY, Ky. (4/18/14) — Need companionship, unconditional love, a friend for life and a chance to save a life?… Read More

Hopkins County Sheriff Arrest Report - April 18, 2014

HOPKINS COUNTY, Ky. (4/18/14) — The Hopkins County Sheriff's Office released the following reports Friday, April 18.… Read More

Most Read This Week (Site-Wide)

April 16, 2014 18950

UPDATE- Sheriff's Office Following Leads…

in Top Stories by Taylor Riley, SurfKY News Reporter
April 14, 2014 6383

U.S. Bank Hanson on Lockdown Due to Bomb…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 14, 2014 5262

Pedestrian Killed During Two Vehicle…

in Top Stories by Chris E. King
April 17, 2014 3552

KSP Nabs St. Charles Man Wanted by U.S.…

in Top Stories by Trooper Stu Recke
April 15, 2014 3046

Police Searching for Sureway's 'Baby…

in Top Stories by Taylor Riley, SurfKY News Reporter

Most Read Stories from Hopkins County

April 14, 2014 5262

Pedestrian Killed During Two Vehicle…

in Top Stories by Chris E. King
April 17, 2014 3552

KSP Nabs St. Charles Man Wanted by U.S.…

in Top Stories by Trooper Stu Recke
April 15, 2014 3046

Police Searching for Sureway's 'Baby…

in Top Stories by Taylor Riley, SurfKY News Reporter
April 15, 2014 2707

Multi-Agency Investigation Leads to Drug…

in Top Stories by Lori Blakeley
April 15, 2014 1048

State Approves $500K for Hopkins Archery…

in Top Stories by Rebecca Hanchett

Most Read Stories from Owensboro

April 14, 2014 2086

Grow Garden Grow - Spring Has Sprung

in News by Barbara Cecil Russ
April 15, 2014 1631

Owensboro Police Investigate Auto Accident

in News by Michael Hathaway
April 15, 2014 1287

Owensboro Parks Offers Tennis Lessons

in News by Britni Bunn
April 15, 2014 924

Happenings and Meetings Owensboro

in News by Dennis Beard, SurfKY News
April 14, 2014 673

Owensboro Health Hosts Tours for…

in Top Stories by Dennis Beard, SurfKY News

Most Read Stories from Muhlenberg County

April 16, 2014 2923

Sheriff's Deputies Nab Central City…

in Top Stories by Sheriff Curtis McGehee
April 14, 2014 2539

MCC Staff Shares Good News with…

in Top Stories by Paul McRee, SurfKY News Reporter
April 15, 2014 1926

'Walk Right Back' An Everly Brother's…

in Top Stories by Paul McRee, SurfKY News Reporter
April 15, 2014 1763

Local MCHS Students Train at Job Corps

in Top Stories by Karen Robinson
April 15, 2014 1428

Thumbpickers Unite at Mose Rager Day

in Top Stories by Paul McRee, SurfKY News Reporter

SurfKY News Group, Inc. Central Office & Printing Division
1125 Nebo Rd.  •  Madisonville, KY 42431  •  270.452.2249 (fax)
Main Number: 270.452.2727 (phone)  •  Printing Division Direct Line: 270.821.8600 (phone)

SurfKY Owensboro News Bureau
920 Frederica St. / Suite 210  •  Owensboro, KY 42301  •  270.683-8060 (phone)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social 06social 21social 22social 04social 03