Pike County threatens to sue company after it moves, owing the county $300,000

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PIKEVILLE, Ky. (WYMT) - Pike County is threatening to sue RCC Big Shoal, LLC after it broke its promise to bring jobs to the area.

The Herald-Leader reports Pike County Judge-Executive Ray Jones said he is considering the lawsuit against the principals of RCC after they failed to pay back $300,000 to the county.

The company said it was going to build a plant that would turn natural gas into liquid products, such as waxes and lubricants. In August 2014, county officials loaned RCC $400,000, hoping the plant would bring jobs and economic development.

Two years later, RCC announced it was moving to Floyd County instead. In 2018, it paid back $100,000 to Pike County. Since then, no more payments have come in.

The Pike County Fiscal Court has threatened to sue before, even giving RCC a deadline of October 2017 to make a payment. Now, Jones told The Herald-Leader he wants all the money repaid by March 1 of this year, though he is still willing to work with the company if it can prove the project is still happening.

Recently-seated Floyd County Judge-Executive Robert Williams said he has not heard from RCC yet. The former judge-executive, Ben Hale, said he heard last week that the company is working to lock down investments for the plant, which is supposedly still scheduled to be operational by 2020.



 
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