Officials from Transcraft, a platform trailer manufacturer on U.S. 68/Ky. 80 and International Drive in Cadiz, said the expansion will include a new 12,000-square-foot painting facility and new equipment, thanks to a nearly $3 million investment into the community by the company.
“I couldn’t be more pleased that the Commonwealth is partnering with Transcraft to make this investment possible and bring 80 jobs to Cadiz,” Gov. Beshear said. “Transcraft is a long-standing and well-respected corporate citizen, and this expansion is a milestone on their long road of success here in Kentucky.”
Kerri Richardson of the Governor’s Office says the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives of up to $2 million – which will help fund the expansion – through the Kentucky Business Investment Program.
The performance-based incentive lets 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, said Richardson.
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