Automobile industry

Magna Car Top Systems Expands in Bowling Green, Creates 30 New Jobs

Strategic Insights

Aug 22, 2010 — 1 min read

Gov. Steve Beshear announced the expansion of Magna Car Top Systems, a supplier of roof systems for the automotive industry, in Bowling Green. The company, a division of Magna Steyr, an operating group of Magna International, will invest over $950,000 in new equipment, retooling, and facility modifications. This expansion is a result of a recent award by General Motors to Magna Car Top Systems to design, develop, and produce the Chevrolet Camaro convertible soft top. The company plans to locate the project at its existing Bowling Green facility, where the soft top for the Chevrolet Corvette is also assembled.

Key Takeaways:

Magna Car Top Systems will invest over $950,000 in new equipment, retooling, and facility modifications.
The company will create 30 new jobs as a result of the expansion.
The expansion is due to a recent award by General Motors to design, develop, and produce the Chevrolet Camaro convertible soft top.
Magna Car Top Systems plans to locate the project at its existing Bowling Green facility.
The project will benefit from a tax benefits package through the Kentucky Business Investment program, worth up to $662,800 in tax benefits over a 10-year period.
Gunter Fritz, managing director of Magna Car Top Systems, praised the collaboration with the Commonwealth of Kentucky, highlighting the state's business-friendly programs.

Statistics:

$950,000: The amount invested by Magna Car Top Systems in new equipment, retooling, and facility modifications.
30: The number of new jobs created by the expansion.
10 years: The duration of the tax benefits package through the Kentucky Business Investment program.
$662,800: The amount of tax benefits available through the Kentucky Business Investment program.
18: The current number of employees at Magna Car Top Systems in Bowling Green.
First quarter of 2011: The planned start date for manufacturing the Chevrolet Camaro convertible soft top.

Sources:

Office of the Governor of Kentucky
Magna Car Top Systems
General Motors
Kentucky Economic Development Finance Authority

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