Fitzgerald Trailers is a start-up manufacturing company with locations in Tompkinsville, Kentucky and Byrdstown, Tennessee. The company was formed in 2023 for the purpose of manufacturing, selling, and distributing dry van trailers using the latest in automation technology. The company commenced operations in Q2 of 2024 and manufactures up to 2,000 dry van trailers annually. The project includes coordinated job training, apprenticeships, and educational efforts with area workforce development specialists. The New Markets financing provided capital for equipment, inventory, and start-up working capital that accelerated the hiring and growth of the company. Without the New Markets financing, the company would have limited access to start-up working capital, the launch would have been delayed, and the project size would have decreased.
The Tompkinsville, Kentucky facility is responsible for final assembly and distribution of the dry van trailer product. Tompkinsville’s census tract has a 22.9% poverty rate and is designated as a distressed area and at-risk county by the Appalachian Regional Commission. The project was supported by the local development authority, workforce development board, and mayor. Tompkinsville faced unemployment and poverty issues after an industrial manufacturer ceased operations. The closing of that facility resulted in the loss of hundreds of jobs and created a situation where residents drove over 25 miles to find work. The opening of the Fitzgerald Trailers facility brought back those jobs.
The Byrdstown, TN facility is used for steel and aluminum fabrication, robotic welding, and limited sub-assembly. The project was supported by local workforce development organizations and the state’s economic development authority. Byrdstown struggled with economic development due to a lack of industrial parks and small businesses, with a local elected official describing the job-creation of the project as “manna from Heaven.” The opening of the Fitzgerald Trailers facility created jobs in an area that otherwise struggled with new job creation.
Three Roots Capital was pleased to partner with Truist Bank to provided financing for Fitzgerald Trailers.