Manufacturer of hypo-allergenic wetsuits and water sports gear to create 10 jobs
FRANKFORT, Ky. (Oct. 15, 2012) – NitraCore LLC plans to establish a headquarters and a manufacturing operation in a 7,000-s.f. facility in Eddyville (Lyon County), creating 10 jobs and investing more than $260,000.
“We welcome NitraCore to Lyon County and are excited this partnership can help create 10 jobs and bring a $260,000 investment in the commonwealth,” said Gov. Steve Beshear. “This sends a clear message that Kentucky is a perfect location to do business, and we look forward to a long and successful relationship.”
NitraCore manufactures and distributes hypo-allergenic wetsuits, water sports insulation gear and high performance rubber products. The company is a consolidation of several existing California-based companies and product lines.
“We look forward to starting up our new company here in Western Kentucky,” said NitraCore President Randy Reed. “The business environment in Lyon County has proven to be favorable, with an abundance of qualified human resources, affordable manufacturing space and outstanding support from local government representatives. We look forward to a long and prosperous relationship with Lyon County and the commonwealth of Kentucky.”
The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $145,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
“I am always pleased to welcome a company to our area, but NitraCore is particularly special because of its entrepreneurial spirit,” said Sen. Ken Winters of Murray. “I know that there will be synergy established between the employer and our hard-working people.”
For more information on NitraCore, visit www.nitracore.com.