New Millennium Building Systems has officially begun production of steel joists at its Hope, Arkansas, facility. At full production and when fully staffed, it is projected to generate more than $8 million in annual payroll. The company already has hired 58 employees, and plans to hire up to 120 additional workers as demand dictates.

Founded in 1999 in Butler, Indiana, New Millennium is now the second-largest provider of steel joists and metal decking to the nationwide U.S. market. Last September it acquired manufacturing and office facilities in Hope, Arkansas; Fallon, Nevada; and Juarez, Mexico.

"The steel joist industry has been a part of our manufacturing base for decades," said Hope Mayor Dennis Ramsey. "We are excited that is continuing with New Millennium and the jobs they are bringing. Their investment and job creation will be most beneficial to [the] Southwest Arkansas economy."

The Hope facility is New Millennium's first plant in Arkansas, and will help the company with plans to expand its construction market presence in the Southwest and the West. In addition to the purchase price, the firm has installed an additional $4 million of new equipment in this facility formerly occupied by the Commercial Metals Company.