The new aluminum recycling facility, located in the West Industrial Park, will process dross-a metal containing by-product--and scrap material from TAA’s casting center at nearby Logan Aluminum.
“Tri-Arrows Aluminum is honored to continue its long-standing relationship with the Russellville and Logan County community,” said Tri-Arrows Aluminum President and CEO Henry Gordinier. “We are excited to share in this project with Tennessee Aluminum Processors. The new facility’s proximity to Logan Aluminum was a key factor in determining site location.”
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved an incentive agreement with the company under the Kentucky Business Investment program.
Additionally, the company was approved for additional 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.
Additionally, the company was approved for additional 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.
“We are excited to expand our aluminum recycling capabilities with a new, state-of-the-art facility located centrally in a region experiencing tremendous growth in the aluminum sector,” noted Jared Sweeney, Tennessee Aluminum Processors CEO. “We have been very impressed by the accommodating and efficient pro-business atmosphere encountered while working on this project with representatives of Russellville, Logan County and the Commonwealth of Kentucky.”
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, Kentucky Aluminum Processors 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.
“Each company that chooses to locate a new project here in the commonwealth brings with them quality jobs and opportunities for Kentuckians,” added Governor Andy Beshear. “Our manufacturing industry is one of the largest sectors in the state and continues to grow because of quality companies like Kentucky Aluminum Processors choosing and trusting what we have to offer. I want to thank their company leadership in this joint venture opportunity and look forward to their success in Logan County.”
Tri-Arrows Aluminum is a supplier of rolled aluminum sheet in the North American market focusing on the beverage can sheet and automotive sheet markets.
“We are extremely excited that Kentucky Aluminum Processors has chosen Logan County’s West Industrial Park as their new processing facility location,” said Brooke Waldrup, president and CEO of the Logan Economic Alliance Development. “This project will not only create new jobs in our county, but it will also support our county’s largest manufacturer, Logan Aluminum. Being able to create new jobs while supporting a local existing industry is a huge win for Logan County.”
Tennessee Aluminum Processor provides a variety of secondary aluminum recycling services to customers in the transportation, packaging, construction and aerospace segments of the aluminum industry.