Braidy Industries, a newcomer in the aluminum market, has been granted nearly ten million dollars of tax incentives for the construction of a 1.3 billion dollar manufacturing building in South Shore, Kentucky. This building, to be up and running by 2020, will be dedicated to refining aluminum for several types of cars and planes.
If the company successfully completes its goals in its future location, it can hold onto its current piece of investment with the grant. The placement of the plant also offers several new jobs for South Shore residents, helping to negate the area’s recent job loss. Discontinuing the operation of Ohio River’s steel mill was particularly damaging to the area’s economic status.
The future aluminum plant will measure more than two million square feet, complete with a food court, day care centre, and exercise gym. Its placement in Greenup County will provide the region with around 1,500 manual labour jobs in total, with salaries as high as $70k. It plans to refine 370,000 tonnes of aluminum annually.
With a team of professional aluminum workers, international businesspersons, and alloy chemists, Braidy Industries strives to not only aid in the area’s economic crisis, but also create higher aluminum standards worldwide.
Through creating new jobs in the area and attracting potential aerospace and automotive customers, the future plant will greatly benefit eastern Kentucky and incite global competition.