3M to invest $4.2 million in Cynthiana, KY plant
April 23rd, 2010 - 2:53 am ICT by BNO NewsCYNTHIANA, KENTUCKY (BNO NEWS) – 3M company will invest $4.2 million in new equipment for the Cynthiana, Kentucky plant, Governor Steve Beshear announced on Thursday.
The investment will bring in new products which could position the plant for future packaging opportunities that would lead to the creation of additional job openings. The Cynthiana plant currently employs 500 people.
“Kentucky is pleased to partner with 3M to make this multi-million dollar investment possible, one that not only retains more than 500 Kentucky jobs, but creates future opportunities for new jobs,” said Mr. Beshear.
The Cynthiana plant manufactures post-it notes, easel pads and scotch packaging tapes. 3M is globally recognized as a diversified global manufacturer and marketer of a wide variety of quality products.
The investment was made possible after the Kentucky Economic Development Finance Authority approved 3M Company for tax incentives up to $2.5 million through the Kentucky Reinvestment Act.
We are very pleased that the Kentucky Legislature and Gov. Beshear supported the passage of the Kentucky Reinvestment Act, which will help us bring this new investment into 3M Cynthiana,” said Ann Getting, 3M Cynthiana Plant Manager.
“We have been here over 40 years, and this bill helps us keep manufacturing jobs in Kentucky. We appreciate our employees’ efforts to help 3M be competitive in a global economy.”
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