WILLIAMSBURG, Ky. — Renfro Supply Co., one of the region’s largest wholesalers, announced it will expand operations in Whitley County with a nearly $8.5 million expansion creating 25 jobs for Kentucky residents.
The investment will see the company expand its current operations with a 51,000-square-foot facility on 6 acres, which will more than double the space of the company’s current footprint. This project comes in response to growing customer demand and continued growth and will allow Renfro Supply to provide the full product offering of a convenience store, along with additional opportunities to serve other businesses. The project will create 25 quality jobs for residents in the area, bringing the company’s total number of Kentucky employees to 46. Construction on the new site is anticipated to begin this month and be completed by June 2023.
“The new facility is a long overdue expansion of our capacity as a distributor,” said Renfro Supply President and CEO Burley McFarland. “The new space allows for growth and the ability to diversify within our industry, allowing access to many new job opportunities. We look forward to being able to offer new products and services the former facility would not afford.”
Based in Williamsburg in Southeastern Kentucky, Renfro Supply is one of the largest wholesalers of goods in the region. The company was founded in 1922 by Simon Renfro and has been located in the same building for the past century. Since the company was founded, it has delivered over 9 million products to its customer base, offering over 10,000 products and goods in its catalog. Renfro Supply provides service and delivery of goods to retail stores, convenience stores, restaurants and schools, among other businesses.
Renfro Supply’s growth builds on the state’s strength in distribution and logistics, an industry that has announced more than 6,000 full-time jobs for Kentucky residents during the administration behind $1.2 billion in new investment. The new facility also adds to Kentucky’s growing agribusiness sector, which currently employs more than 20,000 people statewide. Since the start of the Beshear administration, companies within the industry have announced $935 million in new investment and nearly 2,100 full-time jobs for Kentuckians.
In August, the Kentucky Economic Development Finance Authority (KEDFA) approved a 15-year incentive agreement with the company under the Kentucky Business Investment program to encourage investment and job growth in the community. The performance-based agreement can provide up to $500,000 in tax incentives based on the company’s investment of nearly $8.5 million and annual targets of:
- Creation and maintenance of 25 Kentucky-resident, full-time jobs across 15 years; and
- Paying an average hourly wage of $20, including benefits across those jobs.
KEDFA approved Renfro Supply Co. for up to $100,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
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, Renfro Supply Co. can receive resources from Kentucky’s workforce service providers. These include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.