FRANKFORT, Ky. (WTVQ / Press Release) – Executives cut ribbon at new facility for wireless network provider Kinetic Mesh Rajant Corp., a project that will create 100 full-time jobs over the next few years with an investment of $ 2 million.
“Our path to a better future for Kentuckians is based on the growth of innovative high-tech companies like Rajant,” Governor Andy Beshear said. “This expansion in Rowan County highlights our efforts to create quality employment opportunities for our residents and underscores what we already know: Our talented workforce is second to none and our state is the perfect home for companies focused on long-term growth. I would like to thank the leadership of Rajant for this commitment to the Commonwealth and look forward to the continued success of the business in our state.
Rocky Adkins, Senior Advisor to Governor Beshear, attended the inauguration along with local officials and Rajant executives as the company also celebrates 20 years in business, which has included a presence in Morehead since March 2015. As part of the event Based on the company’s growth in Rowan County, Rajant announced in 2020 it will move from a 9,600 square foot factory on Main Street to a neighboring 48,000 square foot manufacturing space on nearly 14 acres in the MMRC industrial park. Originally announced as a 26 job project, company executives now plan to create 100 jobs in the coming years at the new Morehead plant. The move allows the company to increase production of products and services with additional capabilities, including artificial intelligence (AI), while improving its commercial and military product lines.
Rajant benefited from Morehead State University’s space engineering program, with graduates contributing to the company’s current staff of 24 in Rowan County, including designers, engineers, service technicians and assemblers. .
“Our continued investment in Kentucky is a testament to the potential that we believe fully exists for high tech companies like Rajant,” said Rajant President, CEO and Co-Founder Robert Schena, who joined Governor Beshear today ‘hui via video for the Kentucky squad update. to talk about the expansion. “We have only encountered encouragement, support and a vision of what will be a bright future for the Appalachian region. We encourage other businesses to participate in the economic development and talent culture that the state has to offer.
US Congressman Hal Rogers noted the company’s significant growth since moving to Morehead.
“Rajant Corp. has had an impressive impact in Eastern Kentucky over the past six years, and I am delighted to see this innovative business grow five times more than when it first opened in Morehead, ”said Congressman Rogers. “Rajant’s growth is proof that we have the best workforce in the country and high caliber students graduating from Morehead State University’s Advanced Space Science Program, who are ready for the incredible internship opportunities and jobs available at Rajant. It is also refreshing to see businesses in our region continuing to grow and increase production despite the impact of the COVID-19 pandemic. “
Founded in 2001 in Malvern, Pa., Rajant develops dozens of products and technologies using the company’s patented InstaMesh network software. Technology facilitates mobile communications in some of the world’s most difficult and demanding environments. Rajant currently operates under contract with subcontractors from the US Department of Defense to build the next generation of wireless communications for voice, data, video and other applications. The company’s commercial markets include mining, ports, transportation, oil and gas, public safety, and agriculture, among other industrial applications. Rajant currently employs 160 people at three locations in the United States.
The new Rajant facility is one of more than 4,500 manufacturing-related operations in Kentucky, which employs approximately 260,000 Kentuckians statewide. The Commonwealth is a national leader in the manufacturing sector, with about 13% of its workforce employed in the sector compared to the US average of 8.5%.
Morehead Mayor Laura White-Brown said the move will make the company’s success even easier going forward.
“It has been great to watch Rajant grow in our community over the past six years, culminating in this new facility that will position the company for future growth in the years to come,” said Mayor White-Brown. “Today is a great day for Rajant and for Morehead as we begin our next chapter together.”
Rowan County Judge / Executive Harry Clark highlighted the quality employment opportunities created by Rajant’s growth in the region.
“High-tech companies like Rajant are leading the way in creating quality jobs for our residents, and today’s grand opening represents a big step forward in the partnership between the company and our community,” said Judge / Executive Clark. “I hope to see Rajant continue to grow in Rowan County for years to come.”
Russ Ward, chairman of the board of directors of the Morehead Rowan County Economic Development Council, recognized the talented workforce in the region that enables companies like Rajant to thrive.
“We know we have a large, skilled workforce here in Morehead and Rowan County, and the growth of a business like Rajant shows companies are realizing it, too,” Ward said. “Rajant has been a great addition to our community since arriving here in 2015 and I know we will continue to grow together in the years to come. “
Rajant’s investment and expected job creation bolster the Commonwealth’s recent economic momentum, as the state strengthens in the wake of the pandemic’s effects.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) approved in May 2020 a 15-year incentive agreement with the company under the Kentucky Business Investment Program. The performance-based agreement can provide up to $ 300,000 in tax incentives depending on the company’s investment of $ 2 million and annual goals of:
- Creation and maintenance of 26 full-time jobs for residents of Kentucky over 15 years; and
- Pay an average hourly wage of $ 25, including benefits, for these jobs.
Additionally, KEDFA has approved Rajant for up to $ 50,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows licensed companies to recoup Kentucky sales and use tax on construction costs, construction equipment, equipment used in research and development, and electronic processing.
By meeting its annual goals over the term of the agreement, the business may be eligible to retain a portion of the new tax revenue it generates. The company can claim eligible incentives for its income tax and / or employee contributions.
In addition, Rajant may receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, businesses can benefit from free recruitment and placement services, personalized training at low cost, and job training incentives.
For more information on Rajant Corp., visit Rajant.com.