D&B Trucks and Equipment plans to expand and on Thursday received both local support and preliminary approval for $400,000 in state tax incentives.
Some details of D&B Trucks & Equipment’s expansion plans at its location on Burkesville Road overlooking the Cumberland Parkway were discussed Thursday at a special-called meeting of the Industrial Development Economic Authority of Glasgow-Barren County.
The board approved two items related to D&B Trucks. The first was $325,000 to the Glasgow Water Co. for the construction of a sewer line to run underneath Cumberland Parkway at the exit for Burkesville Road.
Dan Iacconi, IDEA executive director, told board members the Department for Local Government, which has oversight of the board’s Community Development Block Grant, had approved the use of the CDBG for the sewer project.
The board approved establishing a contract with the water company for the money to be used for the project.
The second item was an agreement between IDEA and D&B related to the $325,000.
“I have prepared an agreement between IDEA and D&B Trucks and Equipment sales,” board attorney Rich Alexander told those at the meeting. “They are benefiting from the extension of the sewer service.”
“If they do not go forward with this expansion and create the jobs they anticipate creating, then they will be responsible for reimbursing IDEA the CDBG money,” he said. “They’ve already seen the agreement and they have consented to it.”
“So it’s tied to the expansion and not the number of jobs created?” asked board member Charlie Campbell.
“It’s tied to the expansion and the number of jobs created,” Alexander said.
Iacconi said after the meeting the expectation is for D&B to create 50 jobs in the next two years with its expansion.
“D&B was authorized today for preliminary approval for (state money) for expansion of the facility and they are also creating 50 new jobs,” he said.
D&B Trucks was approved for $400,000 from the Kentucky Cabinet for Economic Development for the proposed $575,000 expansion project, according to the online Kentucky Financial Incentives Database. The expansion would create 50 jobs with an average hourly wage of $15 an hour, according to information on the database.
Iacconi said the agreement with IDEA allows for more time before D&B Trucks would have to reimburse the CDBG money used in the sewer expansion.
Reached Thursday by phone before the IDEA board meeting, D&B Trucks owner Dale Clark said he had no comment right now about an expansion.
“We are looking at an expansion,” he said, pointing out that there is no timetable for it.
He said there would be a press release at the appropriate time in the future.
The business has two locations – locally on Burkesville Road and the other in Queen City, Texas, according to the company website.
The business’ website says it offers new and used trucks, forestry and construction equipment and parts and service. It also says the company does custom-built Kenworth and Peterbilt glider trucks.
Original article HERE.
