Kentucky: Feralloy to create 30 jobs with steel processing plant in Gallatin County
Topics: KENTUCKY FERALLOY
By leasing a 60,000-square-foot facility at Nucor’s steel mill in Gallatin, Feralloy will receive steel coils directly from the mill, then cut and level them into high-quality sheets per customer spec.
The new facility will enable Feralloy to better serve customers in the Ohio Valley and Eastern U.S. Operations are scheduled to begin in October of this year with one shift of 15 employees, expanding to additional shifts soon after.
Feralloy dates back to 1954 and has become a major steel service center in North America with 13 locations in the U.S. and Mexico, serving a range of customers including small, family-owned manufactures and distributors as well as large original equipment manufacturers.
Feralloy is a wholly owned subsidiary of Los Angeles-based Reliance Steel & Aluminum Co., an NYSE-listed Fortune 500 company.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in June approved Feralloy for up to $90,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA).
KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
In addition, Feralloy can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. ■