Paul Reed Smith's entrepreneurial skills honored

PRS Guitars, the third largest electric guitar manufacturer in the U.S., has announced that Paul Reed Smith, Managing General Partner, received the Ernst and Young Entrepreneur Of The Year 2007 Award in the Retail and Consumer Products category in Maryland.

According to Ernst & Young, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Paul Reed Smith was selected by an independent panel of judges, and the award was presented at an Ernst & Young Entrepreneur Of The Year gala event at the Hyatt Regency Baltimore on June 28th.

Paul Reed Smith was honored to be the recipient of this year’s award for Maryland. “PRS Guitars wouldn’t be the company it is today without the support of a great team or without the love that goes into making each and every PRS guitar. This award is really for every person that has contributed to PRS’ success since day one,” said Smith. PRS Guitars has been manufacturing high-end electric and electro-acoustic guitars in Maryland for more than 20 years. Starting in Paul’s family home in Bowie, Maryland, operations soon moved to a small, garret shop on West Street, in historic downtown Annapolis, Maryland, and then to a larger industrial space just outside of historic Annapolis. The manufacturing facility eventually moved to Stevensville, Maryland, in 1996 to meet increasing demand and is now full-swing with a multi-million dollar expansion set out to extend the current manufacturing space by more than five times.

While PRS celebrates their 22nd anniversary in 2007, the Ernst & Young Entrepreneur Of The Year awards program celebrates its 21st anniversary this year and continues to honor entrepreneurs who have demonstrated excellence in such areas as innovation, financial performance and personal commitment to their businesses and communities.

“Ernst & Young is honored to recognize extraordinary business leaders, such as Paul Reed Smith, and the companies they have built,” said David Jones, Ernst & Young Entrepreneur Of The Year program director for Maryland.

As a Maryland award winner, Paul Reed Smith is now eligible for consideration for the Ernst & Young Entrepreneur Of The Year 2007 national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 17, 2007. The national Entrepreneur Of The Year celebration is part of Ernst & Young’s Strategic Growth Forum. The overall national Entrepreneur Of The Year award recipient is then considered for the world event held in Monte Carlo.

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