GALLATIN COUNTY, Ky. — A steel processing company is locating a $17.5 million facility on Nucor Steel Gallatin's campus, a move that will create 30 jobs. The facility will level and cut steel for customers throughout the Ohio Valley region.
Gov. Andy Beshear (D) made the announcement about Feralloy Corp. last week.
“I’d like to welcome Feralloy to Kentucky and thank its leaders for creating jobs in our state during an uncertain time. Their confidence in Kentucky’s business sector highlights our advantages for companies making long-term commitments to our communities,” Beshear said. “For the primary metals industry, Kentucky provides a key location nationally, low electricity rates, shipping options including rail, river and highway and an experienced workforce. These, and the momentum of our current industry partners like Nucor and Feralloy, will propel growth well into the future.”
At the 60,000-square-foot facility, Feralloy will receive steel coils directly from Nucor's steel mill before cutting and leveling htem into sheets per customer spec. Operations are expected to begin in October of this year with one shift of 15 employees, expanding to additional shifts soon after.
Feralloy, a Chicago-based corporation, dates back to 1954 and has 13 locations in the U.S. and Mexico. It is a wholly owned subsidary of Los-Angeles-based Reliance Steel & Aluminum Co., an NYSE-listed Fortune 500 company.
Since December 2019, Kentucky has announced 13 primary metals industry projects and promised investments over $110 million and nearly 500 full-time jobs. The commonwelath is home to nearly 230 primary metals facilities, employing almost 27,000 people.
The Kentucky Economic Development Finance Authority approved Feralloy for up to $90,000 in tax incentives through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kneutcky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
Fellaroy can also receive resources from the Kentucky Skills Network, such as no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.