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Rapid Industries Expands Louisville, Kentucky, Operations

Conveyor systems manufacturer Process Solutions and Services Inc., doing business as Rapid Industries, will expand its footprint in Jefferson County, Kentucky. The $6.8 million project is expected to create 25 jobs.

The company will construct a 50,000-square-foot manufacturing facility adjacent to its existing headquarters on Oaklawn Drive, where it currently employs more than 125 employees. The investment also will accommodate the purchase of new equipment.

“Rapid Industries has produced conveyor systems in Kentucky for decades, and under its current leadership since 2016, the company has continued its success and is poised for even more growth in the future,” Governor Andy Beshear said. “Congratulations to everyone at Rapid Industries. I look forward to seeing what’s next for this quality employer in Louisville.”

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) today preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $300,000 in tax incentives based on the company’s investment of $6.8 million and annual targets of creation and maintenance of 25 Kentucky-resident, full-time jobs across 10 years, and paying an average hourly wage of $25 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. In addition, the company 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.

“Benefiting from our competitive cost of doing business and central location, the e-commerce and logistics sectors have grown into a more than $5 billion industry locally,” Mayor Fischer said. “Rapid Industries provides critical infrastructure that helps logistics companies move and sort packages accurately and efficiently. We are excited to see the continued growth of companies in Louisville within this critical industry and congratulate Rapid Industries on their expansion!”

Rapid Industries provides conveyor systems to support a range of industries, including parcel, automotive and appliance companies.

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