MS: Peavey Electronics Announces Expansion of Meridian Operations; Project to Create 25 New Jobs
15 Oct, 2010
Officials from Peavey® Electronics, manufacturer of musical equipment, gear and accessories, have announced the company is expanding its operations in Meridian, Miss., to accommodate the addition of a new line of guitars. The expansion represents a sizeable investment by Peavey and will create approximately 25 new jobs with plans to eventually expand to as many as 100 new positions.
Peavey recently purchased a Louisiana guitar manufacturing company’s hard assets and intellectual property and is moving the company’s equipment to a Peavey manufacturing facility in Meridian where Peavey will manufacture the new line of high-end guitars.
“We are proud of Peavey Electronics, a Mississippi-based company that distributes products in more than 130 countries and operates manufacturing and distribution facilities in locations around the globe. We are particularly excited that this home-grown company is expanding in its home state,” said Gray Swoope, MDA executive director. “I am pleased we were able to assist with this expansion project, and I thank Hartley Peavey and the entire Peavey family for their continued investment in Mississippi and their dedication to the state and its workforce.”
The Mississippi Development Authority (MDA) worked with company and local officials to help facilitate the expansion through the Job Protection Grant program.
“We are very excited about this new venture. The Composite Acoustics guitar line is the biggest leap forward in guitar technology in decades. Most importantly, it helps us achieve our goals of creating and retaining jobs here in Mississippi,” said Hartley Peavey, Peavey Electronics founder and chief executive officer. “We are also thrilled to be able to experience growth as a company after weathering the economic climate of the last few years.”
Celebrating 45 years in business, Peavey Electronics is one of the largest, most diversified, independently owned suppliers of musical instruments and professional sound equipment in the world, with design, manufacturing and distribution facilities spanning three continents. Today, with more than 180 patents in musical instrument design and audio technology and 2,000 products created in-house, Peavey is not only recognized as a music industry leader in the 136 countries in which its products are distributed, but it is also a highly desired brand name used by rock and roll legends and modern day pop music icons.
In addition to instruments, Peavey and its divisions also provide major audio communications conduits for industries across the board. These can be found in government installations, theme parks, airports, stadiums and buildings all over the world, such as the Sydney Opera House, the U.S. Capitol building and the Beijing Airport.
For more information about Peavey Electronics, please visit the company’s website at www.peavey.com.
About Mississippi Development Authority
Mississippi Development Authority is the State of Mississippi’s lead economic and community development agency. More than 250 employees are engaged in providing services to businesses, communities and workers in the state. While the agency is best known for its efforts to recruit new businesses to Mississippi, the Authority provides services to promote tourism, help communities improve their quality of place, help existing employers identify and meet opportunities and challenges and help workers improve their skills – all with the goal of improving the quality of life and economic well-being of Mississippians. For more information, visit MDA’s website at www.mississippi.org.