FRANKFORT, Ky. (Aug. 18, 2016) – Power Truss Inc., a producer of wood roof and floor trusses for the construction industry, will expand its operation in Mayfield with a more than $1.6 million investment projected to create up to eight full-time jobs, Gov. Matt Bevin announced today.
“The growth of Power Truss – and its decision to remain in Mayfield – comes as great news for the people and economy of Graves County,” Gov. Bevin said. “For nearly 40 years, this family owned company has literally provided the building blocks for growth in Kentucky. This expansion by Power Truss further strengthens Kentucky’s construction industry and I wish the company all the best in the years to come.”
Power Truss plans to construct a 26,400-square-foot building to more than double the size of its operation in Graves County. As well, the company plans to purchase new computerized, automated production equipment to decrease labor costs and raw-material use while increasing output.
“Power Truss is excited to announce plans to expand our production facility,” said Neal Power, vice president of Power Truss. “A new 26,000-plus-square-foot manufacturing facility will be constructed on site to accommodate the addition of state-of-the-art structural component production equipment, allowing Power Truss to offer the highest quality and value in the structural component industry.”
Don and Lynn Power founded Power Truss in 1978. Their sons, Brad and Neal, have since joined the business as corporate officers. Operating under a mission of manufacturing high-quality wood roof and floor trusses, the company also provides engineered wood products and joist hangers. Power Truss supplies customers – primarily lumber dealers and commercial contractors – throughout Kentucky, Indiana, Tennessee, Illinois, Missouri and Arkansas with trusses specifically designed for residential, commercial and agricultural projects.
Sen. Stan Humphries, of Cadiz, said Power Truss has had a positive impact on the local economy as well as the construction industry.
“I am pleased to hear of Power Truss’ expansion in Graves County,” Sen. Humphries said. “This company has been a great economic partner in our community and the construction industry, and I look forward to their success in future enterprises.”
Mayfield Mayor Teresa Rochetti-Cantrell, described Power Truss as one of “Mayfield’s hidden treasures.”
“The City of Mayfield is excited about the success of businesses that have helped to create who we are as a city,” Mayor Rochetti-Cantrell said. “Power Truss is just that kind of business – years of service, family tradition and a true example of what we like to call ‘Mayfield’s Hidden Treasures.’ Congratulations to the Power Truss family on this incredible continued investment in Mayfield!”
Graves County Judge-Executive Jesse Perry said this expansion is the next step in the community’s growth.
“I am proud that Power Truss is expanding in Graves County,” Judge Perry said. “This is our next step in seeing Graves County grow and prosper. We have already seen an impact of Power Truss’ influence with employment for many years operating in Graves County. We look forward to their continued growth and building strong ties in the community.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in July approved Power Truss for tax incentives up to $25,000 through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
Additionally, Power Truss can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.
For more information on Power Truss, visit www.PowerTruss.com.
A detailed community profile for Mayfield (Graves County) can be viewed at www.bit.ly/GravesCo.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2015 totaled a state record $5.1 billion, spurring more than 16,000 projected new jobs. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.