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Area Development - Site Selection, Facility Planning and Workforce Development

Rip Technologies Establishes Mt. Sterling, Kentucky, Operations

05/29/2024
Rip Technologies, a manufacturer specializing in the printing and production of art pieces and picture frames, plans to establish operations in Mt. Sterling, Kentucky. The $4.3 million project is expected to create 46 jobs.

The investment will further expand the company’s manufacturing and e-commerce capabilities.

“We are incredibly enthusiastic about the opportunities Central Kentucky offers our business,” said Rip Technologies Co-CEO Ophir Rahimi. “We firmly believe that Kentucky’s growing industrial landscape will evolve into a thriving manufacturing epicenter, further fueled by the ongoing trend of onshoring. With exceptional governance and a talented workforce, Kentucky stands out as an exceptional choice for business.”

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $650,000 in tax incentives based on the company’s investment of $4.3 million and annual targets of creation and maintenance of 46 Kentucky-resident, full-time jobs across 15 years; and paying an average hourly wage of $26, including benefits, across those jobs.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.

“I’d like to welcome Rip Technologies to Montgomery County and the commonwealth, as well as the 46 quality jobs the company will create with this investment,” noted Governor Andy Beshear. “This is the latest company to recognize the value of locating in Kentucky and the many strengths our state offers to ensure their business thrives. Rip Technologies will be a great addition to our manufacturing sector, which continues to diversify and grow.”

In addition, Rip Technologies can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

“We are grateful that Mr. Ophir Rahimi and his team with Rip Technologies chose Mt. Sterling as the community to locate this new operation,” added Mt. Sterling/Montgomery County Industrial Authority Executive Director Jason Rainey. “This is a great addition to our thriving manufacturing space and diverse industry clusters. We highly appreciate the opportunity.”

Rip Technologies owns several Amazon-focused e-commerce brands, including Haus and Hues, The Carefree Bee, and Daylight. In 2018, the company introduced its flagship brand, Haus and Hues, specializing in printing, manufacturing and selling a multitude of art pieces and picture frames.

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