Pennington Stave and Cooperage Plans Edmonton, Kentucky Mill
PS&C selected a 38-acre site in the Edmonton-Metcalfe Industrial Park for the production of staves and barrels in service of the growing spirits and wine industries. The site includes a 30,000-square-foot spec building that will be finished and outfitted with equipment and technology to accommodate stave and heading production, timber seasoning and an on-site kiln for wood drying.
The Edmonton-Metcalfe County Industrial Authority also will construct a new 80,000-square-foot facility for lease by the company. The structure will operate as a cooperage for barrel assembly, charring and toasting to client specifications. Company leaders plan to use American white oak secured primarily from local logging companies and other regional sources.
“Pennington Stave and Cooperage is excited to locate our production facilities in Metcalfe County, Kentucky,” said Chad Pennington, the company’s President. “Providing employment opportunities to over 100 citizens in our area will bring prosperity not only to Metcalfe County, but to surrounding counties as well. My management team is comprised of seasoned veterans with many years of experience in the spirits and wine industry, both on a domestic and international level. I want to thank Governor Bevin and his staff, the Kentucky Cabinet for Economic Development and Gordon Garrett of the Kentucky Small Business Development Center for their efforts in bringing this project to Metcalfe County.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved the company for tax incentives up to $2 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of the new tax revenue it generates over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets. In addition, PS&C can receive resources from the Kentucky Skills Network.
“Kentucky’s iconic bourbon industry has been an economic powerhouse for generations, and its current momentum is truly astounding,” Governor Matt Bevin said. “From barrel production to distillation, the commonwealth continues to be the perfect fit for any company tied to the production of bourbon and spirits. Congratulations to Pennington Stave and Cooperage, as they launch this innovative new endeavor in the industry and create exciting opportunities for the workforce of South Central Kentucky.”
According to state officials, PS&C aims to fill a growing need in the bourbon and American whiskey market. Annually, the industry requires production of more than 1.8 million barrels, and a lack of suppliers poses potential challenges in the future. The company also plans to implement state-of-the-art production methods and technology developed by Bohnert Equipment Co. and other entities to ensure a greater supply of high-quality barrels in place of more labor-intensive traditional methods.
Edmonton Mayor Doug Smith said, “I am thrilled Pennington Stave and Cooperage Corp. decided to locate in Edmonton…The opportunity for the residents of Edmonton and Metcalfe County to live and work here is important to me. This will not only be good for the people of Edmonton and Metcalfe County but also for surrounding counties for generations to come.”
Beam Therapeutics Selects Research Triangle Park, North Carolina, for Research and Production Campus
2019 Leading Metro Locations: Pacific and South-Atlantic Metros Dominate the List
Site Selection 2020: The Importance of “Regional Depth” with Global Reach
How are Uncertain Times Altering Company Location Strategies?
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row
A Heightened Focus on Reshoring
34th Annual Corporate Survey & the 16th Annual Consultants Survey