A Meridian business that started as one person’s dream 40 years ago has evolved into a multi-million dollar operation spanning three generations.

Gipson Steel Inc. was founded in 1976 by E.M. “Hoot” Gipson and his wife, Doris. Gipson Steel celebrated its 40th anniversary in August, but recognized the occasion Friday with a dinner for its approximately 65 employees. The 84-year-old Gipson recently turned over the daily operations of the company to his three sons: Scott, the CEO; Mark, the vice president and plant manager, and Keith, company president. A grandson, Mike, is a project manager and has been with the company for 11 years.

Employees presented the founder with a plaque in association with the anniversary.

The company grew from 12,000 square feet under the overhead crane to about 100,000 square feet under the overhead crane. Financially, the business has evolved, too: it went from $100,000 in sales the first year to $15 million today. The company fabricates more that 7,000 tons of steel ayear and has developed a repeat customer base covering a 600-mile radius from Meridian, according to the business’ website.

Over four decades, Gipson Steel has completed 3,000 projects in 36 states, Puerto Rico and nine countries.

Hoot Gipson first got into the steel business when he worked with Tucker Steel in Knoxville, Tenn. He worked his way up to vice president/general manager for the company until it was sold to a New York firm in the 1970s.

“I had worked for Tucker for 20 years with experience in management, shop, procedures and what have you,” Gipson said. “One day I decided I had been a manager for other people long enough and wanted to go into business for myself. I hocked everything we owned. Forty years later, here we are.”

Gipson said learning the ropes on the job proved beneficial.

“The experience of traveling, meeting people and contacts benefited us. We were fortunate in being able to hire and keep good people. The youngest out here in terms of service is Alex Pickett, who has nine years on the administrative side. The oldest employee in terms of employment is sales manager Elton Hogan,” Gipson said. “A great deal of our shop quality is a credit to the longevity of the company.”

Thoye Pitts is plant superintendent, while chief financial officer is Michelle Hollan.

Hoot Gipson said he didn’t dream the company would grow so large.

“No, sir, not that I didn’t have the dream for it to grow as it has, but we didn’t have the money. We had to grow the assets as we went along,” he said. “Miss Doris and I didn’t take a lot out of the business and returned money back into the company to buy expansions and equipment. Most of the equipment in the company today is computer operated.”

The business is all free and clear of any debt.

Scott Gipson, 61, said his intent is to follow in his father’s blueprint.

“My job is to keep it moving forward into the future and then turn it over to my son, Mike,” Scott Gipson said. “I plan to follow my father’s philosophy, which is quality which is still working. We want to make sure the steel fits once it gets into the field. His philosophy was to always give a good product.”