Gov. Beshear: ARMOR-IIMAK To Expand Boone County Operation With Nearly $6 Million Investment, Creating 44 Kentucky Jobs

Increased manufacturing output will help the company meet growing consumer demand

FRANKFORT, Ky. (May 4, 2026) - Today, Gov. Andy Beshear highlighted an exciting new project for Kentucky's manufacturing industry as ARMOR-IIMAK announced plans to expand its Boone County facility. The nearly $6 million investment will create 44 Kentucky jobs, and 65 total jobs, further strengthening the commonwealth's record-setting economic growth over the past six years.

"One of the key drivers behind our historic economic momentum has been Kentucky-based companies continuing to reinvest in the communities they serve," said Gov. Beshear. "This expansion is a testament to not only our state's resources and business-friendly environment, but also to the skilled workforce and dedicated partners collaborating at the local and state levels. I am happy to see 44 new, quality jobs coming to Boone County and look forward to ARMOR-IIMAK's continued success."

ARMOR-IIMAK is the ARMOR Group's North American business making thermal transfer ribbons for digital printing uses. The expansion will increase production capacity and consolidate select production volumes from other facilities within its global network. The investment includes facility modifications, new equipment installation and workforce expansion to support additional manufacturing output. The 44 new positions will span manufacturing, technical and support functions, bringing the company's total Kentucky workforce to over 100 employees.

"We are proud to deepen our commitment to Kentucky and the Boone County community through this expansion and are grateful for the support of Gov. Beshear's administration and the Kentucky Economic Development Finance Authority," said ARMOR-IIMAK COO Ryan Heitkamp. "This investment will strengthen our manufacturing capacity to meet growing customer demand while creating high-quality job opportunities for local residents. We look forward to continuing our partnership with the state and contributing to Kentucky's ongoing economic momentum."

ARMOR-IIMAK, Inc. is the North American thermal transfer ribbon business of ARMOR Group, a global leader in thermal transfer ribbons, labels and digital printing consumables. The ARMOR Group is headquartered in Nantes, France, and operates manufacturing and commercial facilities worldwide, serving customers across industrial, logistics, retail, healthcare and packaging markets.

Boone County Judge/Executive Gary Moore celebrated the expansion: "When a company grows its Boone County workforce by more than 70% and invests in new equipment, it sends a clear signal of confidence in our community. The 65 new full-time roles will create strong career opportunities for local residents both in Kentucky and Ohio, spanning production, warehouse, engineering and administrative work."

BE NKY Growth Partnership CEO Lee Crume added: "ARMOR-IIMAK's continued expansion highlights Northern Kentucky's growing partnership with global businesses. We're grateful for the company's long-term commitment since 1999, and we're proud to support the new jobs and additional capacity this project brings to the region."

ARMOR-IIMAK's investment and job creation furthers what has been the best six-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,300 private-sector new-location and expansion projects totaling over $50 billion in announced investments, creating more than 70,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth's history and $29 billion more than the next highest total.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the battery capital of the United States: AESC's $2 billion, 2,000-job gigafactory project in Warren County; Ford Motor Co.'s $2 billion, 2,200-job commitment in Louisville, as well as its $2 billion, 2,100-job project at the Kentucky 1 plant in Hardin County; Shelbyville Battery Manufacturing's $712 million investment, creating 1,572 jobs in Shelby County; and Toyota's $1.3 billion investment in Scott County, among others.

The Governor's administration also secured the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody's Investors Service.

This year, Site Selection magazine ranked Kentucky in the top five nationally and second in the South Central region for economic development projects per capita in its 2025 Governor's Cup rankings. Last year, Site Selection also placed Kentucky second in the South Central region and No. 6 nationally in its 2025 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear also announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) last month preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $600,000 in tax incentives based on the company's investment of $5.8 million and annual targets of:

• Creation and maintenance of 44 Kentucky-resident, full-time jobs across 10 years; and
• Paying an average hourly wage of $37.30, including benefits, across those jobs.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.

In addition, ARMOR-IIMAK can receive resources from Kentucky's workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

For more information on ARMOR-IIMAK, visit armor-iimak.com.

A detailed community profile for Boone County can be viewed here.

Information on Kentucky's economic development efforts and programs is available at NewKentuckyHome.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.