R.T. Vanderbilt Company Invests $13.5 Million to Expand Operations Murray, Kentucky
"New jobs and a multi-million dollar investment in Kentucky are steps in the right direction for R.T. Vanderbilt Company and the Commonwealth," said Gov. Steve Beshear. "We're thrilled to partner with the R.T. Vanderbilt Company to see this growth happen in Murray, and we look forward to continued success for this tradition-rich company."
"R.T. Vanderbilt has long enjoyed being part of this community," said Richard Vonnahme, executive vice president and general manager of R.T. Vanderbilt Co. Inc. "The support from local officials, neighbors and the Commonwealth has been a part of the decision to further expand our operations in this area and provide additional employment opportunities for people in our area."
To encourage the investment and job growth in Murray, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax benefits up to $300,000 through the Kentucky Enterprise Initiative Act. The program allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
"R.T. Vanderbilt has been a great corporate partner in our community over the years, so this expansion is certainly welcome news," said Rep. Melvin Henley, of Murray. "It's a huge investment that speaks volumes about the company's intentions to be here long into the future, and I'm happy that state and local officials could work together to help make this happen. Calloway County consistently has one of the lowest unemployment rates in the state, and announcements like this are the reason why."
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