Precision Pulley and Idler Plans Major Expansion in Maysville, Kentucky
01/02/2019
PPI will locate in an existing 105,000-square-foot building on Progress Drive, providing room for both manufacturing and distribution operations. Selecting Mason County puts PPI in the same region as a high percentage of its customers.
The building offers capacity to serve new demand for PPI’s package and baggage handling product lines. As well, it provides additional space in the event of a natural disaster or other factors that could hinder production, ensuring the company can serve its customers without interruption.
“The addition of this facility in Maysville allows for additional capacity to meet growing demands both now and into the future,” said Roger Brown, the company’s President & CEO. “We are very excited to become a part of the Maysville community and expect to be an active member of the community for many years. We are honored to now call Maysville home.”
PPI, founded in 1977 and headquartered in Pella, Iowa, provides idlers, pulleys, take-up frames and bearings for cement, grain, forestry, power, package and unit handling, coal, hard rock, aggregate and contract manufacturing businesses. The company operates 12 facilities in the U.S., including manufacturing operations, service centers and training centers, as well as locations in Canada and Chile. PPI is 100 percent employee owned through an Employee Stock Ownership Plan.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority on Dec. 13 preliminarily approved the company for tax incentives up to $2.1 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, PPI can receive resources from the Kentucky Skills Network..
“We are delighted to welcome Precision Pulley and Idler to Kentucky, and congratulate the Maysville community on this exciting news,” Governor Matt Bevin said. “The 134 jobs associated with this project will greatly benefit the regional economy, and the local workforce stands ready to ensure the company’s success in the commonwealth. We are grateful to PPI for this significant investment and look forward to seeing their operation grow in the years ahead.”
Maysville Mayor David Cartmell said. “Maysville has always had a robust manufacturing base. Historically, we had Browning and Emerson, while today we have industry leaders such as Stober Drives, Mitsubishi and Green Tokai. World-class manufacturing runs deep in Maysville, and I believe PPI recognizes that history and will capitalize on the knowledge and workforce that comes with it.”
Owen McNeill, Executive Director of the Maysville-Mason County Industrial Development Authority said, “The addition of PPI to Maysville and Mason County underscores the momentum our community is building. The competition for this project involved multiple states and the fact that PPI selected Maysville shows we are open for business.”
“Maysville is beginning to move the needle and business and industry are noticing. For our population, Maysville punches above its weight class in terms of amenities, services and quality of life. Additionally, the alignment of our educational system and workforce services ensures we can provide the talent pipeline these industries need,” McNeill said.
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