Beech Tree News Network

Tax incentives totaling approximately $480,000 approved by the Kentucky Economic Development Finance Authority this week marks another important step in Stratus Plastics International locating a manufacturing plant in Morgantown in the former Kentucky Copper building.  

According to a news story posted by the Bowling Green Daily News, Stratus Plastics International was preliminarily approved for $480,000 in incentives over 15 years to help the company locate in a Morgantown building. 

The company, which is based in Canada and is involved in mold tryouts and injection molding production, is expected to invest approximately $4 million in its Morgantown plant.  This investment will cover the purchase of the building, equipment costs, and other related investments.  Based on reporting by the Daily News, the venture will be the “company’s first Kentucky operation to focus on supplying the automotive industry in the Southeast and Midwest.”

According to documents from the Kentucky Cabinet for Economic Development, Stratus Plastics is expected to create about 29 new jobs at its Morgantown facility, with the average hourly wage of $15.   

Morgantown Mayor Billy Phelps and the City of Morgantown have been working with Stratus International in an effort to bring them to Morgantown for the past several months.  According to Mayor Phelps, the agreement with Stratus is close to being finalized and the city will be making a formal announcement when that happens. 

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Stay connected to Beech Tree News for the latest on Stratus International coming to Morgantown and other important news impacting Morgantown and Butler County.