KY: Brad Ragan Recycling to Invest $6.6M, Add 75 Jobs in Glasgow
6 Sep, 2018
Gov. Matt Bevin announced Brad Ragan Recycling Inc., an off-road tire remanufacturing and retreading operation known locally as BR Retreading, selected a Build-Ready site in Glasgow for a new $6.6 million facility expected to create 75 full-time jobs.
“BR Retreading is a great example of a homegrown Kentucky success story, and this expansion project is exciting news for the Glasgow area,” Gov. Bevin said. “We are thankful that the company, which provides service to customers from many other industries in the state, will continue to grow its operation right here in the commonwealth. BR Retreading has been an integral part of the Barren County economy for more than two decades, and we wish them the best as they keep their success rolling.”
BR Retreading will construct a new facility on a Build-Ready certified site in Glasgow’s Highland Glen Industrial Park, providing additional capacity for the company’s growth. BR Retreading currently employs 89 people in Glasgow.
Kentucky’s Build-Ready program streamlines site selection, construction and opening of new industrial facilities, saving companies time and money. For cities and counties, the certification program boosts corporate interest, formal inquiries and site visits from prospect companies and site-selection consultants. Glasgow’s is the third Build-Ready site sold this year.
“BR Retreading would like to thank the governor’s office, Kentucky Cabinet for Economic Development, the City of Glasgow and Barren County Economic Authority for their assistance and support of this project,” said Bradley Ragan, co-owner of BR Retreading.
“We are excited about the opportunity to continue our growth in the Glasgow and Barren County area,” said co-owner Scott Ragan. “Our success is dependent upon our people and we continue to find qualified, hard-working and dedicated employees to work with us in this area.”
Founded in 1996, BR Retreading is a third-generation, family-owned provider of tire remanufacturing and retreading products and services to the mining, agricultural, construction and other industries using off-road tires and equipment. The company also owns a retreading facility in North Carolina.
Sen. David Givens, of Greensburg, thanked the company for its additional commitment.
“BR Retreading has been part of the Glasgow community for more than 20 years, and it is great to see the company continue to grow,” Sen. Givens said. “The jobs created with this investment will be much appreciated in Barren County. Thanks to Brad Ragan for the decision to grow this business locally.”
Rep. Steve Riley, of Glasgow, said the company has a long record of success in the region.
“BR Retreading has played an important role in the Barren County economy since it was founded in 1996,” Rep. Riley said. “These 75 jobs will be extremely welcomed in Glasgow.”
Glasgow Mayor Dick Doty expressed pride in the homegrown company’s success.
“There is nothing greater than seeing one of your own doing well, and that is how we feel today as we announce the expansion of BR Retreading here in Glasgow,” Mayor Doty said. “Their long-term presence in our community and their commitment to stay and expand reinforces their desire to see this community grow and prosper. We are extremely thankful for the governor’s efforts and the work of the Cabinet for Economic Development in making this announcement. We could not have closed this deal without the cabinet’s support in the development of a Build-Ready site, and this tool box testifies to their creativity.”
Barren County Judge-Executive Micheal Hale said he expects continued growth from the company.
“Barren County welcomes the expansion of BR Retreading. With a $6.6 million investment and the creation of 75 new jobs, we look forward to working with BR Retreading on this great opportunity for our citizens,” Judge-Executive Hale said. “We thank everyone from the state and local levels who were involved in bringing this expansion to fruition. We anticipate a continued cooperative and supportive business relationship with BR Retreading for many years to come.”
Dan Iacconi, executive director of the Glasgow/Barren County Industrial Development Economic Authority (IDEA), welcomed the company’s expansion.
“We are extremely pleased to see BR Retreading make such a prominent investment in Barren County on their new expansion, especially since it is creating so many well-paying jobs,” Iacconi said. “This adds to the company’s already great reputation in the region, and I’m confident that we will continue to have a successful partnership with them for many years to come. I want to thank Gov. Bevin and his administration for their enduring support throughout this entire project.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Aug. 30 preliminarily approved the company for tax incentives up to $500,000 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.
Additionally, KEDFA approved the company for up to $50,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
BR Retreading also 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 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
For more information on BR Retreading, visit www.BRRetreading.com.
A detailed community profile for Barren County can be viewed here.
Build-Ready sites include a pad ready to accommodate a building up to 100,000 square feet or more – and utilities extending to the site’s edge. The designation also means the applicant – usually a city, county or economic development group – has already filed the necessary permits, including water, environmental and geotechnical, as well as preliminary building plans, cost estimates and schedule projections. Applicants must also provide a rendering of a potential building for the site.
Kentucky’s 14 other Build-Ready sites include tracts in the Interstate 24 Business Park in Cadiz, the Bluegrass Crossings Regional Business Centre in Beaver Dam, the 4 Star Regional Industrial Park in Henderson, the Hickory Industrial Park in Mayfield, the Shelton Lane Industrial Park in Russellville, Progress Park in Horse Cave, Paradise Regional Business Park in Greenville, Commerce Industrial Park in Hopkinsville, Heartland Commerce and Technology Park in Campbellsville, EastPark in Ashland, Princeton Industrial Park in Princeton, the Woodland Industrial Park in Montgomery County, and two tracts in the Kentucky Transpark in Bowling Green.
Learn more about Kentucky’s Build-Ready program and find detailed site descriptions here.
Information on Kentucky’s economic development efforts and programs is available at ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter. Watch the Cabinet’s “This is My Kentucky” video on YouTube.