Braidy Industries Chooses Greenup County, Kentucky, For Aluminum Mill
04/27/2017
The company will construct a 2.5 million square-foot aluminum mill on more than 300 acres near South Shore in Greenup County. The company expects construction to begin in early 2018 with completion in 2020. Construction will create about 1,000 jobs.
Initially, the facility will produce about 370,000 tons of aluminium per year for the automotive and aerospace industries, with opportunities to expand over time.
“Braidy Industries’ decision to locate in Eastern Kentucky has the potential to be as significant as any economic deal ever made in the history of Kentucky,” said Governor Matt Bevin.
“This $1.3 billion investment will create enormous opportunity for people in the region, and would not have been possible without our recently passed right-to-work legislation. I look forward to the success of Braidy Industries as they leverage the incredible work ethic found in Eastern Kentucky. The ripple effect of this investment will be significant and will produce positive change in the region for generations to come,” he added.
Craig Bouchard, Braidy Industries Chairman & CEO, said the new plant will both revitalize the region and raise the bar for aluminum production globally.
“Our team recognizes an opportunity to make incredible impacts both in the global aluminum industry and in bringing well-paying jobs to Eastern Kentucky in the heart of Appalachia,” Bouchard said. “The state’s willingness to partner closely with private industry makes this a prime location to found and grow our world-class and cutting-edge rolling mill.”
Kentucky Cabinet for Economic Development Secretary Terry Gill said the project holds the promise of transforming the region.
“Both in the immediacy and over the coming decades, Braidy Industries’ investment, and the jobs its high-tech mill will create, promise to make a tremendous positive impact on Greenup County and Kentucky’s eastern region,” Sec. Gill said. “In bringing us to today’s announcement, major efforts by local, regional and state partners, including the Legislature’s actions to improve Kentucky’s business climate, proved key. In its entirety, this work helps us deliver the clear message that Kentucky is open for business.”
To encourage the investment and job growth, Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $10 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets. In addition, Braidy Industries can receive resources from the Kentucky Skills Network.
Project Announcements
Campbell Soup Company Expands Richmond, Utah, Baking Operations
03/17/2024
Quantum Fuel Systems Plans Wixom, Michigan, Manufacturing Operations
03/17/2024
The Paslin Company Expands Pontiac-Shelby-Warren, Michigan, Operations
03/17/2024
Schneider Electric Plans-Expands Mt Juliet-Smyrna, Tennessee, Production Operations
03/15/2024
FreezPak Logistics Plans Suffolk, Virginia, Cold Storage Operations
03/15/2024
FrameTec Plans Casa Grande, Arizona, Production Operations
03/15/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Logistics Analysis That Drives Industrial Site Selection
Q4 2023
-
AI 101 for Site Selection
Q4 2023
-
Technology’s Influence on Workforce Development
Workforce Q4 2023
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023