FRANKFORT, Ky. (WKYT) - Republican Gov. Matt Bevin announced on Wednesday that a new $1.3 billion aluminum rolling mill will come to Eastern Kentucky creating 550 jobs.
Braidy Industries, Inc. will produce sheet and plate for the automotive and aerospace industries at the plant being built in Greenup County.
“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 Gov. 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.”
Bevin and officials from Braidy Industries made the announcement at a news conference at the McConnell House in Wurtland Wednesday.
"If Kentucky wasn't a right-to-work state, it wouldn't have been on the list," said Craig Bouchard, who is the Chairman and CEO of Braidy Industries.
The Kentucky Economic Development Finance Authority also called a special meeting to consider incentives for the project.
On the final day of the legislative session, state lawmakers agreed to let Bevin borrow up to $15 million to land a mystery project in eastern Kentucky. Bevin promised lawmakers the company would invest up to $1.3 billion and create 500 jobs with an average salary of $75,000 per year. It passed without a dissenting vote.
Braidy Industries will construct the 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.