MAYFIELD, KY – Precision Tooling Products LLC says it plans to add 10 full-time jobs and invest $450,000 at its machine shop along Ky. 121 southeast of Mayfield. As seen the Mayfield Messeger, story by Hawkins Teague.
Precision Tooling Products is a family-owned machine shop that grew into a niche manufacturer of suppressors for the firearms industry. The business manufactures PTP Tactical brand suppressors and gun accessories.
A news release from Gov. Matt Bevin’s office said the company’s investment would bring new equipment, in the form of seven Haas CNC machine tools, into the facility to increase production of suppressors for pistols and rifles. The project will allow Precision Tooling Products to move from one shift of six employees to two-to-three shifts with 16 or more employees in the coming years, said Tim Fulton, who owns the business with his son, Josh, and wife, Lori.
Tim and Josh opened Precision Tooling Products in 2006 as a contract machine shop offering CNC, grinding, honing and assembly services. They shifted to production of their own products in 2013, developing five lines of silencer/suppressors and establishing the brand PTP Tactical in 2014.
Lori joined as manager and co-owner, and the company increased production through facility and equipment investments over the last two years. The company’s chief design recently received a U.S. patent, and Precision Tooling Products has grown to supply more than 200 gun dealers in 25-plus states. Earlier this year, the company established a relationship with Murski-Breeding Sales to reach the national market, company officials said.
According to the Governor’s Office, the Kentucky Economic Development Finance Authority in December preliminarily approved the company for tax incentives up to $200,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets. The company also can receive resources from the Kentucky Skills Network, which enables companies to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
During a ribbon-cutting on Friday, Tim said Precision Tooling Products was fortunate to have been contacted this fall by the Dallas-based Murski-Breeding Sales, which has 27 sales people in 37 states. PTP Tactical products have been sold as far south as Naples, Florida, as far north as Pittsburgh and as far west as Las Vegas and Phoenix, he said. He added that they are currently available in nearly 30 states.
“We can’t sell in every state,” Tim said. “There are only 42 states that we can sell in. (The products) are legal in most of those states to hunt with, so that’s the good thing.”
Graves County Judge-Executive Jesse Perry said the company is a great example of what is possible for local manufacturing.
“I think we need to take a real hard look at what they’re doing here because this is a homegrown business and they are manufacturing a product, and I believe at the end of the day, when they are building something in Graves County, we are putting people to work and it’s a win-win,” Perry said. “We need to make sure we use the Fultons as an example of how economic development needs to move forward when you’re manufacturing. What a blessing to have them here, and we appreciate all the hard work you all are doing.”
“I couldn’t be more proud that we have a local, homegrown, family-owned business (like this),” said Graves County Economic Development President Ryan Drane. “I’ve had the pleasure of working with you all for a long time. … We’re so excited for the opportunity that you guys have to continue to grow, and we want to make sure you understand that we’re committing everything we’ve got to support you in that effort.”
Precision Tooling Products LLC says it plans to add 10 full-time jobs and invest $450,000 at its machine shop along Ky. 121 southeast of Mayfield. According to Philip Haming, Sales Engineer at Haas Factory Outlet – A Division of Midwest Manufacturing Resources, the list of CNC machines tools purchased includes; two Haas TM-1P Tool Room vertical machining centers, two Haas Mini Mill vertical machining centers, two Haas ST-10 CNC lathes and one Haas SL-10 CNC lathe. All Haas CNC machine tools are made in the USA, at the 1 million square foot plant located in Oxnard, California.
For more information about the Precision Tooling Products, LLC, visit www.ptptactical.com