ASHLAND, Ky. (April 26, 2017) – Kentucky Power, an American Electric Power company, on Wednesday joined state and local leaders as Braidy Industries announced its plans to build a $1.3 billion aluminum rolling mill in Eastern Kentucky.
Braidy, based in Delaware, plans to employ 550 full-time workers with an average hourly salary of $38 and about 1,000 construction workers at the South Shore site in Greenup County. The project resulted from a partnership that included Kentucky Power, the Ashland Alliance, as well as local and state leaders, including Kentucky Gov. Matt Bevin. Construction on the 2.5 million-square-foot mill is to begin in 2018 and be completed in 2020.
“We welcome Braidy Industries and look forward to a long relationship with them as we work together to attract and develop Central Appalachia as a leader in aerospace manufacturing,” said Matthew Satterwhite, Kentucky Power’s president and chief operating officer. “Braidy Industries represents one of the many important partnerships Kentucky Power is forming to bring business and jobs to our communities. Today’s announcement demonstrates why Kentucky Power is investing in economic development and promoting the resources we have in eastern Kentucky.”
In the last five years, Kentucky Power has invested nearly $2 million in economic development in eastern Kentucky, including water and sewer projects, broadband expansion, industrial site development and certification, workforce research, and other endeavors.
“Economic development is at the center of our long-term strategy because that is how we can help revitalize our communities and control costs for everyone,” Satterwhite said. “When Kentucky Power invests in economic development, we can help attract large commercial and industrial customers, like Braidy Industries, to the region. And when we do, our customers gain jobs, government gains taxpayers and we gain new customers. Working together helps us all.”
Brad Hall, Kentucky Power’s external affairs manager, has been leading Kentucky Power’s economic development efforts. Most recently, the focus has been on attracting aerospace manufacturing and suppliers.
“Aerospace is booming in Kentucky in large part because of our skilled workers,” Hall said. “We have eight times the national average of skilled metal workers. Resources like that are what business owners want to hear when considering locating or building a major facility.”
Kentucky Power, based in Ashland, Ky., provides service to about 168,000 customers in 20 Eastern Kentucky counties. It is part of the AEP (NYSE: AEP) system, one of the largest electric utilities in the United States, delivering electricity and energy solutions to nearly 5.4 million customers in 11 states. AEP also owns the nation’s largest electricity transmission system.