Pegasus Industries, LLC, has announced plans to continue growing its operations in Chillicothe.
Founded in 1998, Pegasus Industries is an automotive supplier and contract manufacturer specializing in Class VII heavy duty truck parts. Headquartered in Kentucky, Pegasus has operations in Chillicothe, Indiana, Texas and Kentucky.
This project will allow Pegasus to expand its role in the Kenworth supply chain. Kenworth is increasing its daily truck build rate to make up for its production backlog. The Pegasus operation in Chillicothe also supports Kenworth’s shift to alternative forms of propulsion.
Pegasus will invest roughly $2 million to prepare an additional 200,000 square feet in the building it currently leases to expand its operations. Through the growth it anticipates, Pegasus would become Ross County’s third largest manufacturer.
“At Pegasus Industries, our customers, our employees and our community are of the utmost important to us,” said Brian Modrzynski, Pegasus Industries vice president. “Our customers are always looking for improvements in technology, efficiency and employee retention. Our partnership with JobsOhio, Ohio Southeast Economic Development and Greater Chillicothe and Ross County Development will allow us to continue to invest in our employees to better serve our customers and community. We are very grateful for the support provided by these organizations.”
JobsOhio supported the project with a $200,000 JobsOhio Economic Development Grant and Ohio Southeast Economic Development assisted the company with the grant process. The Greater Chillicothe & Ross County Development Department is offering assistance through an Opportunity Fund.
Pegasus is a second chance employer and provides employment opportunities for people working through substance abuse disorder. More than 30 percent of Pegasus’ workforce represents second chance employees.
The JobsOhio Economic Development Grant focuses on fixed-asset and infrastructure investment by companies. Those investments can include land, building and infrastructure as well as machinery and equipment. Eligibility requirements for this grant can be found at www.jobsohio.com/programs-services/incentives/economic-development-grant.
“Pegasus continues to grow to support Ohio’s growing automotive supply chain and we are thankful for their continued investment,” said OhioSE President Mike Jacoby. “This project is yet another example of a great Ross County economic development win. There is tremendous growth in opportunity in the Chillicothe area.”
Submitted by Thomas Crooks, The Stonewall Group.