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Area Development - Site Selection, Facility Planning and Workforce Development

General Matter Plans Paducah, Kentucky, Uranium Enrichment Operations

08/10/2025
Uranium enrichment company General Matter plans to establish operations in Paducah, Kentucky. The $1.5 billion project is expected to create 140 jobs.

The investment will include the construction of a commercial uranium enrichment facility, located at the former Paducah Gaseous Diffusion Plant, which will produce fuel needed for the next generation of nuclear energy. Operations are scheduled to begin by 2030.

“Seventy-five years ago, the U.S. Atomic Energy Commission selected Paducah to help lead the nation’s original enrichment efforts,” said General Matter CEO Scott Nolan. “We are proud to return to and reactivate this historic site to power a new era of American energy independence, and we thank our partners in Kentucky and at the DOE’s Office of Environmental Management and the Office of Nuclear Energy for supporting us in this landmark investment in American nuclear infrastructure.”

To support the project the Kentucky Economic Development Finance Authority preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $14 million in tax incentives based on the company’s investment of nearly $1.5 billion and annual targets of: creation and maintenance of 140 Kentucky-resident, full-time jobs across 15 years; and paying an average hourly wage of $64, including benefits, across those jobs.

Additionally, KEDFA approved the company for up to $3.5 million in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.

“I want to congratulate the team at General Matter on this major step toward what will be the largest economic investment ever for Western Kentucky,” Governor Andy Beshear noted. “This lease reflects Kentucky’s leadership in nuclear energy and our strong partnerships at the federal and local levels, as well as in the private sector. I am looking forward to being back in Paducah soon to celebrate the next key milestone for this exciting and historic project.”

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments. In addition, General Matter can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

“We appreciate General Matter’s partnership and their decision to locate in Paducah,” added Greater Paducah Economic Development President and CEO Bruce Wilcox . “Their investment is among the largest our community has seen in more than 75 years, bringing life-changing opportunities to our residents through strong wages and long-term careers. For many families, the DOE site is personal. Parents helped build it, their children work there today, and now the next generation has a chance to carry that legacy forward.”

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments. In addition, General Matter can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

General Matter is privately funded and focused on development of uranium enrichment technology to reshore domestic nuclear fuel capacity and power U.S. energy production. The company is backed by Founders Fund.

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