Braidy Industries has selected a 380-acre site on the Ohio River near Ashland, Kentucky for a $1.3 billion, 2.5-million-square-foot aluminium rolling plant that it announced in April 2017. The news has been confirmed by the Commercial Property Executive.
The company expects to start construction of the first Greenfield aluminium rolling mill in the U.S. in more than 30 years by early 2018. The plant is estimated to produce 370,000 tons of aluminium sheet and plate annually to supply to the automotive and aerospace industries.
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The plant is also expected to draw $25 million state incentives, with $10 million in tax breaks tied to investment and job creation goals throughout the next 15 years. The Braidy project is one of the series of developments in the recent times to expand U.S. manufacturing sector. Kentucky offers higher tax breaks and other benefits to companies willing to invest in the manufacturing facilities for job creation and other developments. A number of companies have already announced plans for developing factories in various states.
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During the announcement of the project in April, Braidy CEO Craig Bouchard said the company decided to move ahead with the project after Gov. Matt Bevin signed a "right-to-work" policy into law and after state lawmakers repealed the state's prevailing wage laws.
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