Gov. Matt Bevin announced on Friday, September 14 that Rack-It Truck Racks Inc., a utility truck rack manufacturer with operations in California, will invest more than $1.35 million and create 25 full-time jobs to establish a location in Clinton County.
"We are pleased to welcome Rack-It Truck Racks to the Commonwealth,
as the company looks to better serve its customers in the Eastern
U.S.," Gov. Bevin said. "Kentucky's prime geographic location offers
unmatched logistical advantages, and our skilled workforce and
business-friendly environment provide the essential resources to
support future growth. We are confident that Rack-It Truck Racks'
investment in Clinton County is the start of an enduring relationship
that will benefit both the company and the south central Kentucky
region."
Rack-It leaders plan to purchase, upgrade and build out from an
existing 37,000-square-foot facility on Fairgrounds Road in Albany.
The project includes installing a square tube production line to
manufacture heavy duty truck racks. Additional product lines could be
added in the future.
Company leaders noted the location's proximity to major markets in
Louisville, Nashville and Knoxville, as well as the people they met
in the Clinton County community as deciding factors. A downturn in
the region's houseboat industry left an available workforce with
welding and manufacturing skills, a particular draw for Rack-It. The
company also will create opportunities for powder coating, delivery
and administrative jobs. Construction could begin this month with the
facility fully operational by January 2019.
"Rack-It Truck Racks is very excited about the opportunity to expand
our business into Kentucky and specifically the community of Albany,"
said Van Thompson, president of Rack-It. "We have been warmly
welcomed by the fine people of Albany and look forward to
establishing and growing a long-lasting business presence in the
region."
Rack-It, founded in 1982 in California, manufactures heavy-duty
material racks for pickups, service bodies and flatbed trucks. The
company currently operates one manufacturing facility outside
Sacramento, Calif. The move to Kentucky will allow Rack-It to better
service its Eastern US customers, such as Auto Truck Group in
Louisville, The Knapheide Manufacturing Co. in Quincy, Ill., Reading
Truck Body in Reading, Penn., and Monroe Truck Equipment in Monroe,
Wisc., among others.
Sen. Max Wise, of Campbellsville, showed appreciation for the
company's job creation in the region.
"I want to welcome Rack-It Truck Racks to Clinton County and show my
appreciation for the company's decision to locate in Kentucky to
better serve its customer base," Sen. Wise said. "The local workforce
is ready to prove Rack-It made the right decision. I wish the company
well and hope to see it grow in the years ahead."
Rep. Jeff Hoover, of Albany, described the company as a great fit for
the community.
"Rack-It Truck Racks will be a welcomed addition to Albany," Rep.
Jeff Hoover said. "I'm very thankful that the company has decided to
locate in Clinton County and that it will provide numerous jobs for
its residents."
Charlette Koger, executive director of the Clinton County Industrial
Development Authority, said the job creation will be a welcome addition.
"We are so excited to have them in our county and will assist in any
way we can," Koger said. "This will be a great boost to our local
economy with the jobs that will be created."
To encourage the investment and job growth in the community, the
Kentucky Economic Development Finance Authority (KEDFA) in August
preliminarily approved the company for tax incentives up to $250,000
through the Kentucky Business Investment program. The performance-
based incentive allows a company to keep a portion of its investment
over the agreement term through corporate income tax credits and wage
assessments by meeting job and investment targets.
In addition, Rack-It can receive resources from the Kentucky Skills
Network. Through the Kentucky Skills Network, companies can receive
no-cost recruitment and job placement services, reduced-cost
customized training and job training incentives. In fiscal year 2017,
the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
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