FRANKFORT, Ky. (Sept. 5, 2018) – Gov. Matt Bevin today announced Brad Ragan Recycling Inc., an off-road tire remanufacturing and retreading operation known locally as BR Retreading, selected a Build-Ready site in Glasgow for a new $6.6 million facility expected to create 75 full-time jobs.
BR Retreading will construct a new facility on a Build-Ready certified site in Glasgow’s Highland Glen Industrial Park, providing additional capacity for the company’s growth. BR Retreading currently employs 89 people in Glasgow.
Founded in 1996, BR Retreading is a third-generation, family-owned provider of tire remanufacturing and retreading products and services to the mining, agricultural, construction and other industries using off-road tires and equipment. The company also owns a retreading facility in North Carolina.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Aug. 30 preliminarily approved the company for tax incentives up to $500,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
Additionally, KEDFA approved the company for up to $50,000 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.
BR Retreading also can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
For more information on BR Retreading, visit www.BRRetreading.com.