INDEPENDENCE, Ky. — IT Supply Solutions is planning a nearly $1.9 million planned expansion in Kenton County, an investment that's expected to create 15 full-time jobs over several years.

Gov. Andy Beshear congratulated the company on the expansion Tuesday.

“Building a better Kentucky takes all of us, and that certainly extends to our existing industry,” Beshear said. “IT Supply Solutions is a company that started here in the commonwealth and has capitalized on the opportunities our state offers to help businesses succeed. They truly are part of Team Kentucky, and I appreciate the company’s continued investment in our state and our people.”

The company acquired two warehouses in Independence where it previously operated as partial tenants. The company will construct a 40-by-60-foot extension connecting the two facilities. 

IT Supply Solutions, founded in 2015 by Richard Dunaway and John Bays, refurbishes and remarkets computer equipment to businesses and school systems. Customers are provided with like-new equipment at reduced costs while the company maintains R2 certification, making it a recycler of electronic equipment that can no longer be repurposed.

IT Supply Solutions currently consists of three facilities in Boone and Kenton counties, employing 32 people, 26 of which are Kentuckians. The expansion will consolidate the company's operations.

“We’re excited to expand and create new jobs in a region and state that has not only supported our growth, but is also the place we call home,” said Dunaway. “With demand increasing for computers and network hardware, we’re fortunate to be growing in a time of economic uncertainty and look forward to expanding our operations in 2021. We pride ourselves on operating our business with a philanthropic mindset and hope that through the expansion we will be able to continue to serve the community in which we operate.”

Independence Mayor Chris Reinersman joined Beshear in congratulating the company.

“I congratulate Rich and John on their company’s success and expansion that will double the workforce at IT Supply Solutions,” Reinersman said. “We are grateful IT Supply Solutions is committed to growing its business and investing in the City of Independence.”

The Kentucky Economic Development Finance Authority (KEDFA) approved a 10-year incentive agreement with the company under the Kentucky Business Investment program.

The agreement can provide up to $250,000 in tax incentives based on the company's $The Kentucky Economic Development Finance Authority (KEDFA) approved a 15-year incentive agreement with the company under the Kentucky Business Investment program.

The agreement can provide up to $30 million in tax incentives based on the company's $1.865 million investment and annual targets of: 

• Creation and maintenance of 15 Kentucky-resident, full-time jobs across 10 years; and
• Paying an average hourly wage of $28 including benefits across those jobs.

If the company meets the annual targets over the agreement term, IT Supply Solutions is eligible to keep a portion of the new tax revenue it generates. The company can also claim eligible incentives against its tax liability and/or wage assessments. 

IT Supply Solutions can also receive resources from the Kentucky Skills Network, which provides no-cost recruitment and job placement services, reduced-cost customized training, and job training incentives.

Haeli Spears is a digital producer with Spectrum News 1 Kentucky. She is a University of Louisville graduate who started her career with Spectrum News in May, 2020.