Cabinet for Economic Development
Governor Beshear Celebrates Expansion of TrollandToad.com with Ribbon-Cutting Ceremony in Corbin
Online retailer recently added 50 new jobs, 100 more expected within two years
LONDON, Ky. (July 18, 2011) – Governor Steve Beshear today joined community leaders and officials of TrollandToad.com in Corbin for a ribbon-cutting ceremony celebrating the expansion of the company’s Kentucky operations.
The 18-year-old company, which is one of the world’s leading online retailers of collectible games, moved into a new location in Corbin and has added 50 new jobs, bringing its total employment to more than 160. Over the next two years, the company plans to hire 100 more employees, for a total of more than 250 employees.
“By adding these new jobs, this online entrepreneurial company will now employ more than 250 people, making a positive economic impact in the local area,” said Gov. Beshear. “By choosing to expand within Kentucky, TrollandToad.com is another example of how the recent modernization of our economic development programs has provided the tools needed to help our existing companies grow and succeed across our state.”
Ranked in the 2010 Internet Retailer Magazine Top 500 list, TrollandToad.com was started by Jon and Lana Huston in their home in Keavy, Ky. Their online catalog currently includes collectible card games, collectible miniatures, board games, role-playing games, game supplies and toys.
In April 2011, the company completed its purchase of the largest industrial warehouse in eastern Kentucky, formerly occupied by American Greeting Cards. TrollandToad.com currently occupies around one-third of the one million-square-foot facility, including its production and fulfillment operations, as well as a retail store and tournament center.
To help encourage the company’s investment in the facility, the Kentucky Economic Development Finance Authority preliminarily approved TrollandToad.com for tax incentives of up to $1 million through the Kentucky Business Investment program. The performance-based incentive allows the company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
“The Kentucky Business Investment program was instrumental in our decision to maintain and expand our operations within the state,” said TrollandToad.com COO Chris Woltereck. “In 2010, our company’s growth rate was more than five times that of the U.S. average for e-commerce businesses, and our new facilities and larger workforce should enable us to surpass that.”
“TrollandToad.com’s decision to locate in Laurel County represents not only the confidence they have in our workforce, but the increasing confidence in our Commonwealth’s business-friendly environment,” said Rep. Marie Rader, of McKee. “These new, high-quality jobs will add to Laurel County’s workforce, representing a much welcomed boost to our local economy.”
“I am very pleased that TrollandToad.com has recognized the work ethic and quality of life of our community and decided to invest in us,” said Sen. Tom Jensen, of London.
“Laurel County extends a warm welcome to TrollandToad.com,” added Laurel County Judge-Executive David Westerfield. “We look forward to their success and future growth, which will help play an important role in continuing our economic growth here in Laurel County.”
“The city of London joins Laurel County in welcoming TrollandToad.com to our business community,” said London Mayor Troy Rudder. “The combination of a ‘Leader in Online Retail’ and the crossroads of southeastern Kentucky is a perfect mixture for success.”
For more information on the company, visit www.TrollandToad.com.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at y.
A detailed community profile for Corbin (Laurel County) can be viewed at http://www.thinkkentucky.com/EDIS/cmnty/index.aspx?cw=055.
Follow Governor Beshear on Twitter @Govstevebeshear, read the Governor’s personal notes on his blog at http://blog.governor.ky.gov/, and view the Governor's weekly YouTube commentary at http://www.youtube.com/governorbeshear.