FRANKFORT, Ky. (April 24, 2012) – A platform trailer manufacturer plans to build a new 12,000 sq. ft. painting facility in Cadiz, adding 80 jobs.
Transcraft Corp. also will purchase new equipment as part of a nearly $3 million investment,
“Transcraft is a long-standing and well-respected corporate citizen, and this expansion is a milestone on the company’s long road of success here in Kentucky,” said Gov. Steve Beshear.
Headquartered at International Drive in Cadiz, Transcraft is a wholly-owned subsidiary of Wabash National Corp. and is one of the leading manufacturers of platform trailers in North America. Established in 1962, Transcraft offers a wide range of flatbed, drop deck and truck bodies for the commercial vehicle and construction industries.
“Transcraft is excited to announce the next step of our dynamic growth in Cadiz. Even with a state-of-the-art manufacturing facility and a dedicated workforce ready to meet current demand, it is necessary to increase capacity by adding new equipment and expanding our team to position this business to capitalize on a bright future,” said Rick Klein, general manager, Transcraft Corp.
The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $2 million 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.
“We always rejoice when one of our vital industries expand their operations,” said Sen. Ken Winters, of Murray. “Eighty new jobs will certainly impact our local economy.”
For more information on Transcraft, visit www.transcraft.com.