Chemical manufacturing company to invest $13.5 million
FRANKFORT, Ky. (Aug. 29, 2012) — R.T. Vanderbilt Co. plans to expand manufacturing operations in Murray with an investment of $13.5 million in construction and new equipment. The company also plans to add seven new jobs as part of the project.
“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 Co. to see this growth happen in Murray, and we look forward to continued success for this tradition-rich company.”
R.T. Vanderbilt Co., Inc. was established in 1916 in Connecticut, and sells more than 800 products in 60 categories of minerals and chemicals to 12 different industries.
R.T. Vanderbilt has seven wholly-owned subsidiaries operating chemical manufacturing plants in Kentucky and Connecticut, as well as mining and minerals processing facilities across the nation. The company sells goods to approximately 80 countries and employs more than 400 people, including 87 at its Murray facility.
“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.”
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.
“As manufacturing continues to be the backbone of our economic recovery, I am so pleased with R.T. Vanderbilt’s decision to expand their presence in Murray,” said Sen. Ken Winters of Murray. “I thank them for affirming our people’s work-ethic and look forward to watching further growth.”
For more information on R.T. Vanderbilt, visit www.rtvanderbilt.com.