A Kentucky stainless steel plant is spending $244 million to expand its Carroll County facility, one of several economic development projects announced by Gov. Andy Beshear this week.
North American Stainless will add more space and 70 new jobs to its 4-million-square-foot facility, Beshear said at a news conference Thursday. According to CEO Cristobal Fuentes, the company processes about half of the stainless steel produced in North America.
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A Kentucky steel mill pays $244 million to add 4 million square feet to its facility. This investment will create over 70 new jobs.
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Another company, LioChem e-Materials, will renovate a building in Simpson County with a $104 million investment, the governor said. According to a press release from the governor’s office, the new plant will support the production of electric vehicle batteries and create 141 jobs.
The facility will produce a liquid dispersion of carbon nanotubes that will improve the performance of lithium-ion batteries used in electric vehicles.
The governor also announced the expansion of Carter Lumber Co. in Bowling Green. The $8 million investment will create 86 jobs.