The State of Maryland has issued a $10 million bond to Paul Reed Smith Guitars (www.prsguitars.com) to help fund an 84,000-square-foot expansion at its manufacturing facility in Stevensville, Md.
The new facility will be added on to the electric guitar maker's current 25,000-square-foot facility at the Chesapeake Bay Business Park.
The expansion will create 60 new jobs, bringing the company's total work force in Queen Anne's County to more than 250, state officials said.
The bond was issued through Department of Business and Economic Development, which issued a $1.5 million loan to Paul Reed Smith in 2005 to fund initial costs of the expansion.
Some of the finest musicians in rock music, including Carlos Santana and Rush's Alex Lifeson, play Paul Reed Smith guitars.