FRANKFORT, Ky. (March 16, 2015) – Kentucky has received another economic development award. Trade & Industry Development, a leading magazine dedicated to site selection, has included a Kentucky company in its 10th-annual CiCi (Corporate Investment & Community Impact) Awards.
Aleris Rolled Products, in Lewisport, was selected among the top 15 economic development projects in the nation for 2014. Aleris was one of more than 400 submissions from across the country.
"This award not only recognizes the growth and success of Aleris, but also it showcases Kentucky's dedication to economic development, job creation and community support," said Gov. Steve Beshear. "I want to congratulate Aleris for choosing Kentucky for this award-winning project."
Last summer, Aleris announced a $350-million expansion of its facility in Hancock County. The investment, which will include two continuous production lines and a new wide cold mill for the production of aluminum auto body sheet for the automotive industry, positions the company for long-term growth while maintaining steady employment for approximately 800 workers. The expansion puts Hancock County and western Kentucky at the forefront of the booming aluminum industry.
"The automotive transition to aluminum represents the most exciting opportunity for the aluminum industry in decades," Steve Demetriou, Aleris chairman and CEO said. "This expansion will position our Lewisport facility and Aleris to play an important role in this transformation. We thank Kentucky, the entire Lewisport community and our workforce for their ongoing support."
Aside from the investment, Aleris also was chosen for its impact on the local community. The potential for additional auto-aluminum related jobs is highly likely as this new capability can attract new auto industry suppliers to the area. The addition of construction jobs over the two-year period and subsequent manufacturing jobs will benefit both Hancock County and the surrounding region.
"As the single-largest project investment by a company in Kentucky in more than a year, the $350 million expansion of Aleris is an inspiring example of what the 10th-annual CiCi Awards are all about," said Scott Swoger, publisher of Trade & Industry Development. "This project isn't only substantial in terms of investment, but Aleris' growth also will benefit Lewisport and the region."
The CiCi Awards program, created in 2006, highlights the largest corporate investments, but also recognizes projects that make the most notable impact on communities even though they may not involve large investments. Numerous criteria are considered for the Impact division, including new jobs created, current jobs retained, unemployment figures, income level of the region and plant closings.
The award comes on the heels of Kentucky winning Site Selection magazine's annual Governor's Cup for new and expanded industry activity per capita in 2014. Last year, Kentucky announced more than 350 new location and expansion projects, which are projected to create nearly 15,000 jobs and more than $3.7 billion in new investment. That is the most business investment in Kentucky since the state started recording investment data nearly 30 years ago.
For more on Trade & Industry Development's CiCi Awards, visit www.tradeandindustrydev.com.
Information on Kentucky's economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky. Watch the Cabinet's "This is My Kentucky" video on YouTube.
The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2012 totaled nearly $2.7 billion with the creation of more than 14,000 new jobs. Information on available development sites, workforce training,incentive programs, community profiles, small business development and other resources is available at www.ThinkKentucky.com.