Bed Wood and Parts, an automotive aftermarket supplier of domestic and exotic wood bed kits for pickup trucks, plans a $3.7 million expansion of its operation near Hopkinsville, Kentucky. The project is expected to create 42 full-time jobs.
Located between the Hopkinsville and Crofton, Bed Wood and Parts plans to more than double its square footage to nearly 23,000 feet and add new equipment. The expansion will spike its employment from six to 48 full-time workers and help meet increasing demand from customers.
“Bed Wood and Parts’ new manufacturing space and equipment allows us to increase our core production capabilities in key areas, provide enhanced operational efficiencies and exceed customer expectations for rapid order fulfillment, better meeting the needs of our customers,” said Bed Wood and Parts Founder/CEO Jeff Major. “Our team is excited about the growth we are experiencing in Kentucky and this expansion represents a commitment to continue to build on the success our team has accomplished.”
The company also plans to distribute various products online through both Wal-Mart and Amazon, including the patented WoodBone Tailgate Butcher Block, which fits across the inside of truck tailgates. The product is seeing increased popularity among hunters and for athletic and motorsports-event tailgating.
“Bed Wood and Parts exemplifies what we hope small companies in Kentucky achieve with the Commonwealth’s business initiatives,” Governor Matt Bevin said. “This expansion will see the company grow from a local startup into a recognized go-to source in its industry. The substantial increase in employment also will benefit residents in Christian County. I want to thank Bed Wood and Parts for its commitment to south western Kentucky and to the state.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in August preliminarily approved the company for tax incentives up to $1 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets. In addition, Bed Wood and Parts can receive resources from the Kentucky Skills Network.