Powell Valley Millwork, a CMPC company, is set to invest $29.6 million in projects located in Powell and Montgomery counties, Kentucky. This move will retain 214 jobs and create 33 new positions, according to an announcement made by Governor Andy Beshear.
“Powell Valley Millwork has successfully produced sustainable wood products for over 30 years in Kentucky and is positioned for even more growth with this expansion of both facilities,” said Gov. Beshear. “I want to congratulate the company’s leadership on this progress and thank them for their longstanding commitment to the commonwealth.”
The investment aims at upgrading operational capacity and equipment across the company's two facilities, which are over three decades old. The project includes modernizing equipment and automation to boost production capabilities at the Clay City and Jeffersonville locations.
“This expansion reflects our long-term commitment to growth, innovation and the future of Powell Valley Millwork," said Jimmy Thornberry, CEO of Powell Valley Millworks. "By expanding our production capacity for both Poplar and Radiata Pine products, we’re strengthening our ability to serve customers across North America."
Local leaders expressed their support for the expansion. Powell County Judge/Executive Eddie Barnes noted the positive economic impact: “More new jobs being created at competitive wages is always a great thing to see in Clay City.” Montgomery County Judge/Executive Chris Haddix added that the community appreciates continued investments that bring job opportunities.
Craig Dawson from Powell County Industrial Authority acknowledged Powell Valley Millwork as the largest manufacturing employer in Powell County. Jason Rainey from Mt. Sterling-Montgomery County Economic Development highlighted the company's commitment with nearly $24 million invested into local facilities.
Governor Beshear's administration has announced over $36 billion in private-sector investments since its inception, marking a period of significant economic growth for Kentucky. These efforts have resulted in increased employment rates and rising wages across the state.
To support these expansions, KEDFA preliminarily approved incentive agreements with Powell Valley Millwork under several programs aimed at encouraging investment and job creation within Kentucky.
For further details about Powell Valley Millwork's operations or community profiles related to these developments, additional resources are available online.