Funding will help Pennington Stave & Cooperage create 60 jobs
EDMONTON, Ky. (WTVQ) – A $616,900 grant for improvements at a building in the Metcalfe County Industrial Park will help start-up company Pennington Stave & Cooperage LLC manufacture staves and barrels for bourbon and whiskey production, building on positive momentum in the growing spirits industry in the commonwealth.
“Kentucky’s economy is on fire, and today’s announcement adds to our economic progress by creating more quality jobs in Kentucky,” Gov. Andy Beshear said in announcing the grant. “Pennington Stave & Cooperage will add to the growth we’re seeing in Kentucky’s robust spirits industry, especially our signature bourbon industry.”
Funding comes from the Appalachian Regional Commission (ARC), in addition to $1 million previously awarded from the Community Development Block Grant (CDBG) program and $91,000 in local funds, making the project total $1,707,000.
The CDBG award funded construction, including the costs of electric, water, concrete, sewer and fixtures in the 30,000-square-foot speculation building that will house the company.
The ARC funding will be used for additional utility work and the interior build-out of the building. PS&C LLC will invest $3.5 million in new equipment and create 60 jobs with above-average wages for Kentuckians in the Metcalfe County area.
“PS&C LLC is proud to locate in Edmonton, Kentucky,” said Chad Pennington, president of PS&C LLC. “Being a part of Kentucky’s iconic bourbon industry and bringing jobs to the local community is something we are excited about. We look forward to the growth of the company and the opportunities it will bring to citizens in the area.”
“The Metcalfe County Fiscal Court has worked tirelessly alongside the City of Edmonton and the Edmonton/Metcalfe Industrial Development Authority to bring Pennington Stave & Cooperage to Metcalfe County,” said Metcalfe County Judge/Executive Harold Stilts. “This industry will be a great asset to our area by providing a positive economic impact in offering approximately 60 new jobs. We reached out to the Governor’s Office and the Department for Local Government for assistance in this venture, and both offices were able to assist us tremendously. We greatly appreciate all their efforts in making this industry a reality. With all grants and funding in place, we are ready to begin the startup process in getting Pennington Stave & Cooperage into operation.”
PS&C LLC expects to have this facility up and running by the end of 2021. Upon completion of the project, they will have the ability to produce 25,000 staves daily using one production line.
“The Metcalfe County Southside Industrial Park’s partnership with PS&C will have a long lasting economic impact for generations to come,” said Eric Sexton, Barren River Area Development District (BRADD) executive director, whose organization helped bring the project to fruition. “The embodiment of BRADD’s mission is to improve the quality of life of our citizens. Thanks to our local, state and federal partnerships, the investment in this project will do just that, not only for Metcalfe County and the City of Edmonton, but for our entire region.”
The Department for Local Government (DLG) administers ARC funding in Kentucky. Since the beginning of his administration, Gov. Beshear has announced more than $86 million in investment through DLG for more than 200 projects that are helping to update infrastructure, support Kentuckians and diversify regional economies.