Project revives facility closed by previous ownership
FRANKFORT, Ky. (April 10, 2025) – Today, Gov. Andy Beshear highlighted an exciting new project within the state’s manufacturing sector as Muehlenkamp Properties Inc., doing business as Paragon Metal Fabricators, announced plans to locate a new manufacturing operation in Pendleton County with an investment of over $6 million and creation of 40 Kentucky jobs.
“Kentucky’s strength comes from our ability to persevere through challenges and continue to move forward,” said Gov. Beshear. “Paragon Metal Fabricators will be a tremendous addition to the Falmouth community, bringing with them quality job opportunities and a boost to the local economy. I am glad to see this business grow here in the commonwealth and look forward to its continued success.”
To meet growing consumer and industry demand, Paragon Metal Fabricators will establish a new manufacturing operation in Falmouth, which will serve as their second location in the commonwealth. The project will see the company locate in a facility previously owned by Hammer Strength, which after a company-wide consolidation of various locations, closed operations last month after 35 years of business in the community. The new space will create 40 new jobs and allow for increased production times as well as new machinery and operating capabilities, which will include sheet lasers, tube lasers and forming improvements. The more efficient operation will help the company stay competitive within the metal fabrication industry and attract new business.
“Our family is from Northern Kentucky, and we are proud Kentuckians,” said Bryan Muehlenkamp, president of Paragon Metal Fabricators. “We are grateful and excited about our continued growth in the commonwealth and expansion into the Pendleton County and Falmouth location. We will be able to utilize some of the talented and experienced workforce from Hammer Strength to immediately and seamlessly start manufacturing products. We are thankful for the state, Pendleton County and Life Fitness’ guidance, support and direction during this process. Pendleton County and Life Fitness worked together to keep manufacturing jobs in Falmouth. Paragon hopes to follow in Hammer Strength’s footsteps and be a valuable partner to the community and Falmouth continuing forward.”
Established in 1989 by brothers Joe, Stan and Mark Muehlenkamp, Paragon Metal Fabricators was formed after years of planning and market research showed an overwhelming need for quality metal fabrication in the Cincinnati region and surrounding areas. Today, the Erlanger-based company combines over 40 years of industry expertise with cutting-edge technology to deliver quality and service in metal fabrication to multiple markets, including oil and gas, filtration, enclosures, heavy equipment and refrigeration industries, among others.
Pendleton County Judge/Executive David S. Fields looks forward to the company providing quality job opportunities for the community: “The closure of Hammer Strength was a tough loss for our community, affecting nearly 100 hardworking individuals and their families. However, the addition of Paragon Metal Fabricators to this facility is a testament to the resilience of Pendleton County and the hard work of our economic development program. We are excited to welcome a company that not only brings back jobs but also creates new opportunities for growth and stability. This investment strengthens our local economy and enhances the quality of life for our residents.”
Rick Mineer, District 4 magistrate on the Pendleton Fiscal Court, is excited to welcome the company to the area: “Seeing businesses come and go is always a challenge, but Pendleton County remains committed to supporting economic development and workforce opportunities. The arrival of Paragon Metal Fabricators is a great win for our county, bringing back jobs and opening doors for even more employment. We look forward to the positive impact that this will have on our community, from job creation to increased economic activity.”
Pendleton County Economic & Tourism Development Director Tami Vater noted the positive momentum this investment will bring: “The transition from Hammer Strength to Paragon Metal Fabricators is a significant step forward for Pendleton County. This investment not only restores jobs but introduces new positions, reinforcing our county as a great place for business and industry. We are thrilled to see this facility continue to serve as an economic driver and provide meaningful jobs for our community.”
Paragon Metal Fabricators’ investment and job creation build on the best five-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,100 private-sector new-location and expansion projects totaling over $35 billion in announced investments, creating more than 60,500 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $14 billion more than the next highest total.
The robust job creation has been accompanied by rising wages across the commonwealth. Since 2022, the average incentivized hourly wage has topped $26 in three consecutive years for the first time.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby County, among others.
The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.
Kentucky also secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody’s Investors Service.
Site Selection magazine recently ranked Kentucky in the top five nationally and second in the South Central region for economic development projects per capita in its 2024 Governor’s Cup rankings. Last April, Site Selection placed Kentucky second in the South Central region and in the top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.
Gov. Beshear also announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) last month preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1 million in tax incentives based on the company’s investment of $6.175 million and annual targets of:
- Creation and maintenance of 40 Kentucky-resident, full-time jobs across 15 years; and
- Paying an average hourly wage of $28, including benefits, across those jobs.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Paragon can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
For more information on Paragon Metal Fabricators, visit paragonmetalfab.com.
A detailed community profile for Pendleton County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
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