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DRC Industries of Carrollton will purchase the old Parthenon building on Jay Louden Road as part of a $2 million expansion that will add 25 jobs.
Gov. Steve Beshear made the announcement in a news release Tuesday.
DRC is purchasing the 126,000-square-foot facility for its packaging materials business.
“The growth we’re seeing at DRC Industries is exciting and highlights the successful efforts of a dedicated workforce here in the Commonwealth,” Beshear said. “Not only does this mean DRC Industries will spend millions of dollars here in Kentucky, but it also adds up to 25 new jobs for Kentucky citizens, and that is great news.”
DRC Industries President Daniel Click said Tuesday that the expansion is part of an expansion that will double the company’s volume.
Purchasing the former Parthenon building will allow the company to relocate some of its operations from the Hawkins Street location, an 80,000-square-foot facility, Click said.
Some manufacturing and all shipping and receiving will move to the Jay Louden Road location, he said. This will allow the company to get a lot of truck traffic away from downtown, which Click said is particularly important with the upcoming expansion.
Established in 2003, DRC Industries has grown from distributing and warehousing packaging supplies to expanding its manufacturing capabilities.
“After looking at other locations and considering all factors, it made the most business sense to stay in Carroll County,” Click said. “The acquisition of the new larger facility will provide more than enough room for today’s business and tomorrow’s growth.”
A key advantage to operating in Carrollton and Carroll County is the location and easy access to Interstate 71, he said. Louisville and Cincinnati markets are just 45 minutes away, while Indianapolis, Ind., is an hour-and-a-half drive.
Click said this is what has helped his company be so successful. Because DRC Industries is shipping paper tubing, he said it is mostly air. To be competitive, the firm needs to be within eight hours or less of key markets.
Carrollton is at “the bulls-eye of the mid-west,” he said, which allows them to easily ship to Atlanta, Philadelphia, Pittsburg, or to states as far north as Michigan.
To encourage the investment job growth, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $250,000 through the Kentucky Business Investment program, according to the governor’s news release. 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.
Carroll County Judge-Executive Harold “Shorty” Tomlinson said county tax incentives are a part of the package offered to DRC Industries.
Tomlinson said he is now working with Click and officials to secure an upgrade for the rail spur at the former Parthenon facility. “We still trying to help support them,” he said.
Click said the improved rail spur can help DRC Industries remain competitive if the price of gas continues to increase. The company ships in paper and lumber products, much of it from Canada, which could move to rail if fuel prices to up to $7 a gallon.
The county has been working with Click and officials from the state’s economic development cabinet for several months, Tomlinson said.