Gov. Andy Beshear announced a significant development in Kentucky's manufacturing sector as Paragon Metal Fabricators plans to establish a new facility in Pendleton County. The company, operating as Muehlenkamp Properties Inc., aims to invest over $6 million and create 40 jobs in the area.
"Kentucky’s strength comes from our ability to persevere through challenges and continue to move forward," Gov. Beshear stated. "Paragon Metal Fabricators will be a tremendous addition to the Falmouth community, bringing with them quality job opportunities and a boost to the local economy."
The new facility in Falmouth will operate in a building previously owned by Hammer Strength, which ceased operations last month due to a company-wide consolidation. The transition will enable Paragon to increase production capacity with new machinery and enhanced capabilities, including sheet lasers and tube lasers.
"Our family is from Northern Kentucky, and we are proud Kentuckians," said Bryan Muehlenkamp, president of Paragon Metal Fabricators. "We are grateful and excited about our continued growth in the commonwealth and expansion into the Pendleton County and Falmouth location."
The project is expected to rejuvenate the local economy, which was affected by the Hammer Strength closure. "The closure of Hammer Strength was a tough loss for our community," said Pendleton County Judge/Executive David S. Fields. "However, the addition of Paragon Metal Fabricators to this facility is a testament to the resilience of Pendleton County."
Rick Mineer, District 4 magistrate on the Pendleton Fiscal Court, expressed optimism: "Seeing businesses come and go is always a challenge, but Pendleton County remains committed to supporting economic development and workforce opportunities."
Pendleton County Economic & Tourism Development Director Tami Vater highlighted the significance of the investment: "The transition from Hammer Strength to Paragon Metal Fabricators is a significant step forward for Pendleton County. This investment not only restores jobs but introduces new positions, reinforcing our county as a great place for business and industry."
Paragon Metal Fabricators was founded in 1989 by the Muehlenkamp brothers. The company specializes in metal fabrication and caters to various industries, including oil and gas, filtration, and heavy equipment.
Gov. Beshear's administration has prioritized economic development, announcing over 1,100 new-location and expansion projects resulting in more than $35 billion in investments. Paragon's venture adds to this record of growth, which has seen significant projects like the BlueOval SK Battery Park from Ford Motor Co. and SK On.
In support of Paragon Metal Fabricators' investment, the Kentucky Economic Development Finance Authority (KEDFA) has preliminarily approved a 15-year incentive agreement. This agreement includes up to $1 million in tax incentives based on the company’s investment and job creation targets.
Additionally, Paragon will receive assistance from Kentucky's workforce service providers, offering recruitment and job placement services, customized training, and job-training incentives.