FRANKFORT, Ky. — Mineral and chemical company R.T. Vanderbilt plans to invest $13.5 million to expand operations in Murray, Ky., Gov. Steve Beshear announced Wednesday.
“New jobs and a multi-million dollar investment in Kentucky are steps in the right direction for R.T. Vanderbilt Company and the Commonwealth,” said Beshear. “We’re thrilled to partner with the R.T. Vanderbilt Company to see this growth happen in Murray, and we look forward to continued success for this tradition-rich company.”
R.T. Vanderbilt has seven wholly-owned subsidiaries operating chemical manufacturing plants in Kentucky and Connecticut, as well as mining and minerals processing facilities across the nation. The company sells goods to approximately 80 countries and employs more than 400 people, including 87 at its Murray facility.
To encourage the investment and job growth in Murray, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax benefits up to $300,000 through the Kentucky Enterprise Initiative Act. The program allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
According to the company’s website, R.T. Vanderbilt sells more than 60 categories of minerals and chemicals, made up of over 800 products, to 12 different industries: rubber, plastics, petroleum, paint, paper, pharmaceutical, agricultural, ceramics, adhesives, wire and cable, cosmetics and household products.