KY: CA-Based Rack-It Truck Racks to Locate in Albany, Create 25 Jobs
18 Sep, 2018
Gov. Matt Bevin announced 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 US,” 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 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 Rack-It, visit www.RackItInc.com.
A detailed community profile for Clinton County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky. Watch the Cabinet’s “This is My Kentucky” video on YouTube.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2017 totaled a state record $9.2 billion, spurring more than 17,200 projected new jobs. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.