Peavey Electronics will now be manufacturing a new line of guitars, without a single piece of wood in it. Instead, they will be made out of graphite fiber.
According to Hartley Peavey, founder and CEO, this comes after the recent purchase of the hard assets and intellectual property of Composite Acoustics.
Peavey will add new jobs locally to accommodate the new line of guitars.
"Initially there will probably be about 15. Eventually there will be about 75 or so," said Peavey. "Maybe even 100, depending on how it goes."
And Peavey expects it to go well. He says there is very little or no competition for this type of instrument. He said he believes there will be a lot of demand because of its unique characteristics.
"Traditionally, wooden guitars have a heel on the back of the neck. Notice this one has no heel," he said.
According to the United State Department of Labor, the nationwide unemployment rate is 9.6%. With the current state of the economy, Peavey says he hopes to keep jobs in the U.S. and Mississippi.
"At Peavey, we've tried very hard to keep manufacturing jobs in the United States," said the founder. "In order to keep jobs in Meridian, we bought this company. We bought Trace Elliott. We bought Crest. We bought a company called Budda that makes amplifiers on the West Coast. We brought all of that to Meridian."
The company has its own classrooms where it train employees. But, Peavey says finding individuals with the right skill sets is still a challenge.