Automotive supplier investing $2M in Ross County expansion

Pegasus Industries, LLC, “an automotive supplier and contract manufacturer specializing in Class VII heavy duty truck parts,” announced it will invest “roughly $2 million” to expand its Ross County operations in Chillicothe, the Chillicothe Gazette reports. The company’s expansion plans, announced “in collaboration with JobsOhio, Ohio Southeast Economic Development (OhioSE) and the Greater Chillicothe and Ross County Development,” are “to prepare an additional 200,000-square-feet in the building it currently leases” so it can “expand its role in the Kenworth supply chain” as Kenworth increases its daily truck built rate, according to the article. 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.” For more, read the full article.

Economic Development, Project Finance, State Updates