Welcoming prosperity – Pennington Stave & Cooperage Project Announcement
Jobe Publishing, Inc.
Last Tuesday a large group gathered at the Southside Industrial Park in Edmonton for the long-anticipated announcement of the Pennington Stave & Cooperage LLC (PS&C, LLC).
Perhaps no one is more excited about this project coming to fruition than Chad Pennington.
Pennington is a 2001 graduate of MCHS and a lifelong resident of Metcalfe County.
After spending many years working in the oil and gas industry developing business and investor relations, as well as client relations, he decided to start his own project.
“A lot of people put in a lot of hours on this, and I’m proud to be bringing jobs to my hometown,” Pennington said.
He thanked local and state officials, as well as BRADD and his friend and mentor, Tim Smith of the Discovery Channel’s Moonshiners, who traveled from afar to be in attendance for the event.
Speaking for Pennington, Smith said, “I saw a little of him in me. This is the third time I’ve been on this property. I’ll be there when he calls.”
Gov. Andy Beshear was amongst those in attendance, and he spoke of the prosperity he hopes and anticipates this new industry will bring to Metcalfe and surrounding counties. This project makes Metcalfe County part of the 8.6 billion dollar Kentucky bourbon industry.
“Private funding made up a good part of this project, as it should,” said Beshear. “I’m feeling hopeful.”
Beshear also presented a $616,900 grant check for improvements at a building in the Metcalfe County Industrial Park that will house Pennington Stave & Cooperage LLC.
“Kentucky’s economy is on fire, and today’s announcement adds to our economic progress by creating more quality jobs in Kentucky,” said Gov. Beshear.
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.
“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.”
The 60 jobs are just part of the first leg of the operation, which will be the making of staves to build barrels off-sight.
The second leg will be the construction of another building which will house the barrel-making operation, eventually adding more jobs to the community and region.
Although it has been a long road between the project’s conception and later this year when the stave-making portion will be up and running, Pennington is glad to have finally arrived.
“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.”
At the announcement, Pennington also thanked his family, who have supported him through the development of this project.
“Words can’t really express how proud I am of Chad. I’ve gotten to see firsthand the hard work and dedication that he’s put into this dream behind the scenes that most people don’t realize even goes on,” said his wife, Rebecca.
“He’s put countless hours into an idea and made it a reality. I could not be more proud of him or excited to see what the future holds”.