Information regarding a possible new business for the Butler County, Ky., area is leaving the Morgantown community hopeful.
In 2001, when the announcement was made that Sumitomo Electrical Wiring Systems in Morgantown, Ky., would be shut down, it hit the community hard with nearly 900 jobs getting the cut.
"We lost $15 million the first year they were shut down," Morgantown Mayor Charles Black said.
Four years later the Kellwood Company, a clothing and apparel manufacturer, also shut down - another hard hit for Morgantown.
"Either one of them would've been enough to shut a lot of small towns, but we had some other industries we had brought in along the way ... smaller plants and we're actually starting to gain back on payroll," Black said.
Black and other city officials are hoping that a possible new company that could take the place of the former Sumitomo building could benefit the Morgantown community and help bring more industry into the area.
The company interested is Dynastrosi Laboratories, a brand new company that will make wind turbines to produce electricity.
"It's popular with a lot of environmental groups, with the government and there's no waste and nothing to go in the air. It's just wind. Dynastrosi also makes the composite material that the nose core is made out of in the rockets," Black said.
Black also said should this company come to Morgantown within five years, it could employ up to 500 workers.
"It would mean a lot of jobs, good, technical, high-quality jobs with very good pay," Black said.
Dynastrosi Laboratories coming to Morgantown is also sure to bring in other companies.
"There would be probably at least three that are interested in making parts that Dynastrosi would use. It would definitely be a big boost to the area," Black said.
Black said Dynastrosi Laboratories looked at many areas for their location but after visiting Morgantown they let the city officials know unofficially that they were selecting their town. Black also said the company is currently getting their finances completely worked out before they make anything official.