TRIGG COUNTY (WSIL) -- Load Covering Solutions Ltd., a producer and distributor of tarp systems for commercial trucks and trailers, plans to construct a $2 million plant in Trigg County.
Governor Andy Beshear said the new manufacturing plant will create up to 30 jobs in the coming years.
“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 Gov. 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.”
LCS leaders plan to build a 12,000-square-foot manufacturing and installation shop in Interstate 24 Business Park.
Operations at the shop 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.
The new facility also will house sales and marketing personnel. Company leaders anticipate beginning construction this fall and beginning operations by late summer 2022.
With LCS anticipating continued growth, the company chose the Cadiz location in part because of the capability to expand at the facility in the future.
“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.