Posted on June 14, 2023 by the Tennessee Department of Economic and Community Development
GOVERNOR LEE, COMMISSIONER MCWHORTER ANNOUNCE INDEPENDENT STAVE COMPANY TO ESTABLISH MANUFACTURING OPERATIONS IN OVERTON COUNTY
- Family-owned cooperage to invest $30 million, create 85 new jobs in Rickman, Tennessee
NASHVILLE, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart McWhorter and Independent Stave Company officials announced today the company will invest $30 million to establish new manufacturing operations through its subsidiary American Stave Company in Rickman, Tennessee.
Independent Stave Company will create 85 new jobs in Tier 4, At-Risk Overton County. Upon completion of the project, the company will employ nearly 100 Tennesseans.
Independent Stave Company will construct a new stave mill at its Rickman property, which will be the company’s eleventh stave mill in the U.S. The additional production facility will help meet the continued growth needs of its customers.
American Stave Company, LLC, is a subsidiary of Independent Stave Company, a family-owned cooperage that was established in 1912 and manufactures staves, barrels and oak alternatives for customers in more than 40 countries around the world.
Since 2019, TNECD has supported nearly 25 economic development projects in the Upper Cumberland region, resulting in approximately 2,500 job commitments and $765.2 million in capital investment.
QUOTES
“Our strong business climate, central location and highly skilled workforce support long-term investments across rural communities so that Tennesseans have greater opportunities to thrive. I thank Independent Stave Company for its additional investment of $30 million and for creating 85 new jobs across Overton County.” – Gov. Bill Lee
“Independent Stave Company’s decision to expand in Tennessee underscores our state’s ability to provide businesses with the tools and resources they need to succeed. We appreciate the company’s continued partnership with the State of Tennessee and its $30 million investment, which will provide a significant boost in Tier 4, At-Risk Overton County.” – TNECD Commissioner Stuart McWhorter
“We are excited to expand our domestic stave mill operations. This new facility in Rickman, Tennessee, will allow us to increase our wood supply in support of our customers and the growth of the industry. Rickman is an ideal location for our eleventh stave mill with the available skilled workforce as well as the surrounding forests known for cooperage quality white oak.” – Brad Boswell, CEO, Independent Stave Company
“TVA and Upper Cumberland Electric Membership Corporation congratulate Independent Stave Company on its decision to establish operations in Rickman. Helping to support companies creating jobs and investment in the region is fundamental to TVA’s mission of service. We are proud to partner with the Tennessee Department of Economic and Community Development, City of Livingston, Overton County Government, and the Livingston-Overton County Chamber of Commerce to further that mission and look forward to Independent Stave Company’s business success in the Valley.” – John Bradley, TVA senior vice president of economic development
“I’m very pleased to welcome Independent Stave Company to Overton County. This investment not only brings new jobs and economic growth to our community, but it also highlights the importance of our region’s natural resources and skilled workforce in producing high-quality products. I look forward to seeing the positive impact this new facility will have on our district and beyond. We wish Independent Stave Company every success moving forward and pledge our support.” – Sen. Ken Yager (R-Kingston)
“Tennessee continues to be known as a state where new and existing businesses can thrive. Independent Stave Company’s new production facility in Rickman will bring valuable jobs to our community while also strengthening the local economy. I congratulate the company on this exciting announcement and look forward to its bright future here in Overton County.” – Rep. Ed Butler (R-Rickman)
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Tennessee, the department seeks to attract new corporate investment to the state and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter, Instagram and LinkedIn. Like us on Facebook. Subscribe to our YouTube channel.
TNECD Media Contact
Lindsey Tipton
Public Information Officer
lindsey.tipton@tn.gov
(615) 339-6608
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