FRANKFORT, Ky. (April 26, 2022) – Today, Gov. Andy Beshear congratulated Paschall Truck Lines Inc., a nationally recognized truckload carrier based in Murray, as the company broke ground on a new headquarters office in Calloway County, an $8.2 million investment that will create up to 150 full-time jobs.
“Paschall Truck Lines is the latest Kentucky company to grow its presence in the commonwealth,” Gov. Beshear said. “I am thrilled to see additional job creation in Western Kentucky, particularly from an employer that has such a long history of success and growth in our state. Congratulations to the company and everyone in Calloway County on today’s groundbreaking.”
PTL leadership broke ground on a 28,000-square-foot facility in the Murray West Industrial Park. The project is expected to create up to 150 office and administrative roles and will support the company’s customers, which include household names such as Procter & Gamble, Walmart, Home Depot and T.J. Maxx. Work on the project will begin immediately, with the new location expected to be operational by October 2023.
“Paschall Truck Lines Inc. has looked forward to building a new company headquarters on the north side of Murray for many years,” said Chuck Wilson, senior vice president and treasurer for PTL. “We appreciate the support of the City of Murray, the Murray-Calloway EDC and the Commonwealth of Kentucky, without which this project would not have been possible. As a 100% employee-owned company with many Murray and Western Kentucky based employee-owners, we believe the new headquarters facility will serve the needs of the company, its employee-owners, our customers and Murray and the region for many years to come.”
PTL has roots in Murray dating back to its opening in 1937, originally operating as a less-than-truckload carrier with a single truck. The company has since grown into a national truckload carrier with more than 1,100 tractors, 3,200 trailers and over $260 million in annual revenue.
PTL contributes to Kentucky’s logistics and distribution sector, which since the start of the Beshear administration has announced more than 4,000 full-time, Kentucky-resident jobs across more than 80 facility expansion and new-location projects with $563 million in private-sector investment in the commonwealth.
Calloway County Judge/Executive Kenny Imes said he has seen the company exhibit continued growth over the years.
“As a lifelong resident of Calloway County, I have seen PTL grow into a company that is leading the way in transportation throughout North America. They have always been successful and now they are building a headquarters that will make us all even prouder,” Judge/Executive Imes said. “They are a shining example of the very best in their industry and to make it even better, they are owned by the people who actually do the work. I congratulate PTL for their many years of success and their very bright future in our community.”
Murray Mayor Bob Rogers said the project solidifies the future of one of the community’s longstanding employers.
“PTL has been a strong part of the Murray community for over 80 years and has grown from one truck to now being one of the top transportation companies in the country serving the U.S., Canada and Mexico,” Mayor Rogers said. “Today, we are celebrating their new headquarters operation. This will cement the strong relationship we have and ensure that PTL will remain in Murray and the commonwealth for many decades to come. We know the value of PTL to this community and we appreciate that the bright future of the company will be guided from here.”
Murray-Calloway Economic Development Corp. (MCEDC) Chairman David Graham noted his own history with the company.
“As a former employee of PTL and now chair of the MCEDC, it pleases me greatly to see this new investment in our community,” Graham said. “This new headquarters operation will mean that the company, which was founded here, will stay here and continue to grow for many years. This project would not have happened without PTL and the City of Murray working together to address issues that could have made the project unfeasible. This is a great day for the employees of PTL and our community as a whole.”
PTL’s investment and planned job creation furthers recent economic momentum in the commonwealth, as the state builds back stronger from the effects of the pandemic.
The recently released Site Selection magazine’s annual Governor’s Cup rankings for 2021 placed Kentucky atop the South Central region, and third nationally, for qualifying projects per capita.
Gov. Beshear recently announced that on Jan. 28, S&P Global Ratings revised Kentucky’s financial outlook to positive from stable and affirmed its “A-” credit rating. S&P cited a reduced reliance on one-time items to balance the budget and a higher balance in the state’s rainy-day fund as primary factors influencing the change.
That follows a 2021 during which the commonwealth shattered every economic development record in the books. Private-sector new-location and expansion announcements included a record $11.2 billion in total planned investment and commitments to create a record 18,000-plus full-time jobs across the coming years. Kentucky’s average incentivized hourly wage for projects statewide in 2021 was $24 before benefits, a 9.4% increase over the previous year.
In recent months, the commonwealth has seen its two largest economic development projects in the state’s history. In September, Gov. Beshear and leaders from Ford Motor Co. and SK Innovation celebrated a transformative $5.8 billion investment that will create 5,000 jobs in Hardin County. About two weeks ago, the Governor was joined by leadership at Envision AESC to announce a $2 billion investment that will create 2,000 jobs in Warren County. The announcements solidify Kentucky as the national leader in EV battery production.
PTL’s commitment also continues recent economic growth in West Kentucky. Since the start of the Beshear administration, companies in the region have announced more than 90 new-location and expansion projects totaling over $1.7 billion in new investments and creating more than 2,200 full-time jobs.
Kentucky also saw an all-time, record-setting budget surplus in fiscal year 2021 and entered 2022 with an estimated $1.9 billion more than budgeted.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) last month approved the company for up to $125,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
In addition, the company 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 Paschall Truck Lines, visit PTL-inc.com.
A detailed community profile for Calloway 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.
###