28 OCTOBER 2015Logan Aluminum Press Release
Logan Aluminum announces groundbreaking
Edited by : AL CIRCLE
1 min read
Delaware based Logan Aluminum’s long talked about expansion project will likely be unveiled this week.
Logan County’s largest employer announced that it would hold a ground breaking ceremony for an expansion project on Wednesday at 1 p.m. No further details were announced, but in March the Kentucky Economic Development Finance Authority gave preliminary approval to Logan Aluminum for incentives regarding an expansion project.
The preliminary approval is for a proposed $282 million expansion project for the north Logan industry, which is the county’s largest employer and among the biggest in the region.
According to the proposal, Logan Aluminum would create 188 jobs that could pay an average of $50 per hour including benefits.
The purpose for the potential expansion would be to make flat-rolled aluminum sheets for the automobile industry. Some $70 million would be spent on building improvements and $212 million would be used for equipment purchases.
The incentives that Logan Aluminum could see includes a $1.8 million rebate in sales tax on some $40 million that could be spent on materials and a $5.2 million tax incentive over 10 years for the jobs created by the project.
Logan County’s largest employer announced that it would hold a ground breaking ceremony for an expansion project on Wednesday at 1 p.m. No further details were announced, but in March the Kentucky Economic Development Finance Authority gave preliminary approval to Logan Aluminum for incentives regarding an expansion project.
The preliminary approval is for a proposed $282 million expansion project for the north Logan industry, which is the county’s largest employer and among the biggest in the region.
According to the proposal, Logan Aluminum would create 188 jobs that could pay an average of $50 per hour including benefits.
The purpose for the potential expansion would be to make flat-rolled aluminum sheets for the automobile industry. Some $70 million would be spent on building improvements and $212 million would be used for equipment purchases.
The incentives that Logan Aluminum could see includes a $1.8 million rebate in sales tax on some $40 million that could be spent on materials and a $5.2 million tax incentive over 10 years for the jobs created by the project.
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