Canada-Based Load Covering Solutions Plans Trigg County, Kentucky, Manufacturing Center
The company plans to build a 12,000-square-foot manufacturing and installation shop in Interstate 24 Business Park. Operations will include production, assembly, service and repair of its retractable tarpaulin systems. It also will provide related accessories such as lumber, steel, general flat tarps and general cargo control-related equipment. Construction is planned for this fall with operations beginning by late summer 2022.
“The helpful and courteous staff at both Southwestern Kentucky Economic Development and the Commonwealth of Kentucky were instrumental in making this a good home for Load Covering Solutions,” said Brian Petelka, president of Load Covering Solutions. “We are excited to be opening our new U.S. facility in Kentucky and anticipate a warm embrace from all the surrounding existing and future customers, based on the enthusiasm we have seen so far. Our penetration into the U.S. market will be greatly enhanced through our expansion into Kentucky making our product that much more accessible to customers.”
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in August preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $600,000 in tax incentives based on the company’s eligible investment of $1.67 million and annual targets of creation and maintenance of 30 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. In addition, Load Covering Solutions can receive resources from the Kentucky Skills Network.
“With construction of its first Kentucky facility, Load Covering Solutions will add to Kentucky’s long list of high-quality manufacturers located throughout the state,” said Governor Andy Beshear. “The company’s announcement continues our strong economic momentum, marking another step forward in creating career opportunities for Kentuckians in every corner of the commonwealth. I thank Load Covering Solutions’ leaders for selecting our state to power the company’s continued growth, and I welcome LCS to Kentucky.”
Established in 1979 in Ontario, Canada, LCS produces a range of highly specialized covers for its customers, which include the U.S. Army, Air Force and Navy, government contractors such as Lockheed Martin, Northrup Grumman, leaders in aviation and space exploration companies, as well as a wide range of fleets, owner/operators, trailer manufacturers and their dealer networks, and general commercial businesses. The company’s U.S. subsidiary, Load Covering Solutions Inc., USA, is based in Buffalo, New York.
“TVA and Pennyrile RECC congratulate Load Covering Solutions on its decision to locate operations in Trigg County,” added John Bradley, TVA senior vice president of economic development. “Supporting companies that create job opportunities and investment in the valley is fundamental to TVA’s mission of service. We are proud to partner with the Kentucky Cabinet for Economic Development and the South Western Kentucky Economic Development Council to help further that mission and celebrate this announcement.”
The Evolution of the Megasite
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs
The 2021 Top States for Doing Business Reflect Their Locational Advantages
Rail Gains Advantage Amidst Supply Chain Snarls
18th Annual Consultants Survey: Access to Major Markets and Skilled Labor Are Clients’ Primary Concerns
2021 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Innovative and Collaborative Design Sets the Stage for Life Science Innovation