R. T. Vanderbilt Company, a corporation specializing in mining and chemical production, will invest $20 million in its Murray, Kentucky chemical manufacturing facility. It will also hire 16 new workers as part of the expansion.
"The investment in Vanderbilt's Chemical and Mineral Divisions reflects the company's growth in these markets and speaks well for the future of the facility," said Richard Vonnahme, Vanderbilt executive vice president and general manager. "R.T. Vanderbilt has long benefited from the support of excellent employees and the community and looks forward to operating in Calloway County for many years to come."
The expansion will increase the size of the facility by nearly 22,000 square feet. Construction will begin in early 2011.
The Kentucky Economic Development Finance Authority has preliminarily approved Vanderbilt for tax incentives up to $300,000 through the Kentucky Enterprise Initiative Act (KEIA).
Vanderbilt's Murray facility has been in operation since 1970.