American ingenuity can make the best guitars in the world.

Who knows what else is still possible...

Paul Reed Smith Guitars, the Eastern Shore company that makes guitars for Carlos Santana and other well-known musicians, has received a $10 million private equity bond from the state to help pay for a major expansion of its headquarters, company and economic development leaders said yesterday.

The bond, which is tax-exempt and provides the company with a low interest rate for repaying the loan, will be used to help finance an 84,000-square-foot addition to the company's manufacturing facility at the Chesapeake Bay Business Park in Stevensville. The current facility is 25,000 square feet.

The expansion, which is expected to be completed next year, is slated to create 60 new jobs, bringing the company's total work force to 250 people.

It's good to see a company that treats its employees well be so rewarded...