Tech company opening facility in Lexington

Published on NewsOK Modified: January 31, 2014 at 3:01 am •  Published: January 31, 2014
Advertisement
;

FRANKFORT, Ky. (AP) — A Japanese technology company is opening a facility on the Lexmark campus in Lexington and will employ up to 50 people with an average annual wage of $100,000.

Gov. Steve Beshear's office says Funai Electric Co. Ltd. plans to open Funai Lexington Technology Corp. to support research and development in inkjet and microfluidic technologies. Microfluidics is the use of engineering, science and technology to design systems to handle small volumes of fluids.

The announcement represents a $4.2 million investment. The state has given preliminary approval for as much as $1.2 million in tax incentives.

Funai last year announced the acquisition of Lexmark's inkjet technology assets, more than 1,000 patents and a factory in the Philippines. Beshear's office said Funai has been a design and contract manufacturer for Lexmark International since 1997.