A Florida-based e-commerce company will be relocating to the Commonwealth this summer. Officials said an investment of $4.3 million is bringing Rip Technologies to Mt. Sterling, along with 46 full-time jobs.
Rip Technologies currently manufactures its products in Miami, Florida. Jason Rainey is the Executive Director of the Mt. Sterling Montogomery County Industrial Authority. He said the move is a sign of growth for Montgomery and surrounding counties.
“I think it’s great for the state of Kentucky and our region. To have a company from a highly populated Miami area that’s saying: ‘Hey, we want to come up to Kentucky.’ So, we’re glad that it’s worked out for them to land in Mt. Sterling and hopefully continue to diversify the workforce,” said Rainey.
Rip Technologies heads brands like Haus (house) and Hues, Artelo, and Daylight, which specialize in home décor. Most of the company’s sales come from online retailers such as Walmart, Amazon, and Etsy.
Rainey said the company’s approach to manufacturing makes it possible for them to locate in the region.
“We’ve seen a lot of people have to outsource and go overseas to make the economics work. With the proprietary technology they’re able to do it and make it happen here in the United States and ultimately in Mt. Sterling, Kentucky,” said Rainey.
Company owners said they chose to relocate to Kentucky because of its growing manufacturing scene and talented workforce.
In March, the Kentucky Economic Development Finance Authority preliminarily approved a 15-year incentive agreement with Rip Technologies under the Kentucky Business Investment program. The performance-based agreement can provide up to $650,000 in tax incentives. The company must maintain the 46 full-time positions over 15 years and pay an average of $26 an hour.