Posted by: Scott Harrison
Metal stamping manufacturer to create approximately 60 jobs in Lebanon
NASHVILLE – Tennessee Department of Economic and Community Development Commissioner Bob Rolfe and Pennant Moldings Inc. officials announced today that the metal stamping manufacturer will invest $8.6 million to establish new operations in Lebanon.
Pennant Moldings will build a 60,000-square-foot facility in Wilson County. The manufacturer will create approximately 60 new jobs over the next five years.
“Tennesseans have a long legacy of craftsmanship and manufacturing expertise,” Rolfe said. “We’re encouraged that another manufacturer, Pennant Moldings, has recognized the advantages Tennessee’s skilled workforce and overall business environment offer to companies that could operate anywhere in the world. I’d like to thank Pennant Moldings for its commitment to create new valuable job opportunities for Wilson County residents.”
Founded in 1969, Pennant Moldings is based in Sabina, Ohio. The company produces metal stamping, fabrications and roll formed parts, ranging from small electrical components to large decorative stainless steel doors.
“We spent several years looking for the perfect location to support Pennant Molding’s tremendous growth,” Mike Gaby, Pennant Moldings president and CEO, said. “Some of the most important benchmarks in the search were an outstanding business climate, a skilled workforce and proximity to our markets. The state of Tennessee, Wilson County and the city of Lebanon definitively met our criteria. But most importantly, after spending time in the area and meeting with the people, Wilson County and the city of Lebanon immediately felt like home.”
Pennant Moldings’ new facility will predominantly serve the automotive and appliance industry in the Southeast. Construction on the new plant is underway. Pennant Moldings anticipates the construction will be completed in the fourth quarter of 2017.
Wilson County’s elected leaders and the Tennessee Valley Authority expressed gratitude to Pennant Moldings for its decision to locate a new facility in Lebanon.
“On behalf of the citizens of Lebanon, Tennessee, it is my privilege to welcome Pennant Moldings to our city,” Lebanon Mayor Bernie Ash said. “Pennant Moldings joins a long list of Lebanon industries that began with a dream and grew though hard work and commitment. I want to express our appreciation to not only Pennant Moldings but to the State of Tennessee, the Tennessee Valley Authority, and the JECDB of Wilson County who were part of the economic development efforts.”
“I’m proud Wilson County once again distinguished itself as the right match for a company of Pennant Moldings’ caliber,” Wilson County Mayor Randall Hutto said. “I’d also like to express my gratitude and appreciation for those in the community that continue to provide the services and support that led to this decision and made this announcement a reality.”
“Congratulations to Pennant Moldings on the decision to locate its new facility in Lebanon, Tennessee,” John Bradley, TVA Senior Vice President of Economic Development, said. “TVA and Middle Tennessee Electric Membership Corporation are privileged to partner with the State of Tennessee, the Joint Economic and Community Development Board of Wilson County and the City of Lebanon to assist new job creation by companies like Pennant Moldings.”
Lebanon and Wilson County are represented in the Tennessee General Assembly by Sen. Mae Beavers (R – Mt. Juliet), Rep. Susan Lynn (R – Mt. Juliet) and Rep. Mark Pody (R – Lebanon).
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Tennessee is the only three-time winner of “State of the Year” for economic development by Business Facilities magazine. Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.