Posted by Staff Writer on 4/23/2019 to Federal and State Taxes
IncSmart Kentucky (Small Business and Startups) - Russian company invests in Kentucky. The new mill is being built in the Appalachia area near Ashland on the tri state area of the Ohio River. Construction will include hiring 1500 construction workers d. After completion the firm will add an additional 650 full time employees. The plants start date will be early 2021.
Braidy Industries plans on building a 1.7 billion dollar plant. The plan involves a partnership with the Russian company, Rusal, which will supply the aluminum rolling mill from a newly built smelter in Siberia. Rusal was just recently facing government sanctions. The Rusal investment will reach $200 million. The state of Kentucky has also invested in the mill in the amount of $15 million, but will receive over $20 million in taxes every year.
By IncSmart Staff Writer
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