Company to invest $11.3 million, create 25 new jobsLEXINGTON, Ky. (July 12, 2013) — Alliance Coal LLC is expanding its regional headquarters in Lexington.
The company is purchasing land in Beaumont Circle to construct a new building to accommodate the company’s growth. Land costs are estimated at $1.13 million, according to the company’s Kentucky Business Investment (KBI) report to the Kentucky Economic Development Finance Authority (KEDFA).
The overall investment is estimated to be $8.3 million in land, building, equipment and start-up costs. This project will retain 65 jobs and create 25 additional jobs. The average hourly wage for those jobs, including employee benefits, is estimated at $46.
KEDFA in June preliminarily approved Alliance Coal for tax incentives of up to $400,000 in state incentives through the KBI program.
At its regional headquarters, Alliance Coal provides corporate functions including operations management, land management legal, worker’s comp, engineering and permitting, government affairs, information technology and accounting services.
Alliance is a diversified coal producer and marketer with operations in Kentucky, Indiana, Illinois, West Virginia and Maryland.