BRANDENBURG, Ky. (KT) - Nucor Corp., the nation’s top steel producer, is creating 400 new jobs with a $1.35 billion investment in a new steel mill along the Ohio River in Meade County.
Gov. Matt Bevin and officials from Nucor made the announcement Wednesday at the Meade County College & Career Center.
The 1.5-million-square-foot facility will be located on 900 acres in the Buttermilk Falls Industrial Park along the Ohio River. With a production capacity of 1.2 million tons per year, the steel mill will enhance Nucor’s ability to serve customers throughout the region and meet needs for the company’s customers nationwide.
The Kentucky Economic Development Finance Authority voted to offer about $40 million in state incentives to Nucor. Also, the state will give $30 million in incentives through the Kentucky Business Investment program. Another $10 million is offered through the Kentucky Enterprise Initiative Act.
Full-time positions at Nucor will pay an average annual wage of $72,000, and will include equipment operators, production specialists, safety and environmental technicians, engineers and office support staff. Nucor executives anticipate construction will begin by year-end with the facility opening by 2022.
In addition to the 400 permanent full-time positions over 15 years, the project could create as many as 2,000 construction jobs.
“Nucor is a proven, longtime corporate citizen in Kentucky and a key partner in our world-class primary metals industry,” said Gov. Bevin. “This massive project will transform the region’s economy and provide high-quality jobs to Kentuckians for generations to come. Thanks to Nucor’s strong commitment to the commonwealth, we are taking another momentous step toward solidifying our reputation as America’s engineering and manufacturing center of excellence.”
The announcement comes six months after the company announced a $650 million, 70-job phase II expansion at Nucor Steel Gallatin, a mill producing flat-rolled coils in Ghent. That project promises to nearly double the mill’s annual capacity to approximately 3 million tons.
Phase I of the Gallatin plant’s expansion, announced in May 2017, included a new building to house galvanizing and pickling lines. That phase, which is expected to open in the first half of this year, represents a $176 million investment and the addition of 75 new full-time jobs.
“The new plate mill will grow our company’s already significant presence in Kentucky. With this announcement, Nucor is currently investing more than $2 billion in our Kentucky operations,” said John Ferriola, chairman, CEO and president of Nucor. “We would like to thank Gov. Bevin, officials with the Kentucky Cabinet for Economic Development and local officials in Brandenburg and Meade County for their help and support with this project.”
In Kentucky, Nucor and its affiliates already employ approximately 2,000 people at Nucor Steel Gallatin, Steel Technologies LLC, Republic Conduit and Harris Rebar. Nucor also owns the David J. Joseph Co. and its six subsidiary River Metals Recycling facilities across the state, which collect and recycle scrap metal.
Kentucky’s primary metals industry encompasses more than 220 facilities employing nearly 20,400 people. The sector includes producers and downstream processors of steel, stainless steel, aluminum, iron, copper and brass. Nucor’s Brandenburg mill announcement pushes the state’s primary metals totals during the Bevin administration – begun December 2015 – to more than 60 expansion and new-location announcements. Those promise to create more than 3,600 full-time jobs with $4.84 billion in investments in the coming years.
Including Nucor’s Brandenburg mill, Kentucky’s manufacturing, service and technology sectors, companies have announced more than $19.4 billion in investments during the Bevin administration, which are creating 51,000-plus full-time jobs.
Nucor, headquartered in Charlotte, North Carolina, has a sheet steel mill in Gallatin County.