27 MARCH 2015www.bgdailynews.com
Logan Aluminum considers $282 million for expansion
Edited by : AL CIRCLE
2 min read
The Kentucky Economic Development Finance Authority on Thursday gave preliminary approval for incentives to Logan Aluminum for a proposed $282 million expansion.
The company could create 188 jobs, which would pay an average of $50 an hour, including benefits, according to paperwork filed with KEDFA. The wages those jobs would create qualified the company for a $5.2 million tax incentive over 10 years.
"We look at it as a really exciting time in Logan County," Logan County Judge-Executive Logan Chick said.
Chick said Logan Aluminum's potential expansion isn't "just a Logan County project," but rather one that will benefit the region and beyond.
The expansion would include $70 million in building improvements and $212 million in equipment purchases. The company makes rolled aluminum for such things as can stock. The expansion would allow the company to produce flat-rolled aluminum sheets for the automobile industry. About $40 million in materials for the proposed expansion also would qualify the company for $1.8 million in sales tax rebates.
The company has 1,072 employees, making it one of the largest employers in southcentral Kentucky.
KEDFA's preliminary approval for incentives comes on the heels of the groundbreaking last year for the Champion Petfoods plant, which is projected to create 147 jobs and open in January.
"The good Lord has blessed us, and he's just started," Chick said.
The company could create 188 jobs, which would pay an average of $50 an hour, including benefits, according to paperwork filed with KEDFA. The wages those jobs would create qualified the company for a $5.2 million tax incentive over 10 years.
"We look at it as a really exciting time in Logan County," Logan County Judge-Executive Logan Chick said.
Chick said Logan Aluminum's potential expansion isn't "just a Logan County project," but rather one that will benefit the region and beyond.
The expansion would include $70 million in building improvements and $212 million in equipment purchases. The company makes rolled aluminum for such things as can stock. The expansion would allow the company to produce flat-rolled aluminum sheets for the automobile industry. About $40 million in materials for the proposed expansion also would qualify the company for $1.8 million in sales tax rebates.
The company has 1,072 employees, making it one of the largest employers in southcentral Kentucky.
KEDFA's preliminary approval for incentives comes on the heels of the groundbreaking last year for the Champion Petfoods plant, which is projected to create 147 jobs and open in January.
"The good Lord has blessed us, and he's just started," Chick said.
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