RUSSELLVILLE, Ky. (Sept. 9, 2024) – Today, Gov. Andy Beshear announced continued momentum of the state’s metals sector as Kentucky Aluminum Processors celebrated the groundbreaking of its previously announced $40 million aluminum processing facility in Russellville that will create 75 quality Kentucky jobs.
“Each company that chooses to locate a new project here in the commonwealth brings with them quality jobs and opportunities for Kentuckians,” said Gov. Beshear. “Our manufacturing industry is one of the largest sectors in the state and continues to grow because of quality companies like Kentucky Aluminum Processors choosing and trusting what we have to offer. I want to thank their company leadership in this joint venture opportunity and look forward to their success in Logan County.”
The new facility, which will be operated as a joint venture between Tri-Arrows Aluminum (TAA) and Tennessee Aluminum Processors (TAP), will serve as an aluminum recycling facility that will process dross (metal containing by-product) and scrap material from TAA’s casting center at nearby Logan Aluminum. This process will produce molten aluminum and sows, which will be returned to the TAA recycling/casting facilities at Logan Aluminum and/or other customer facilities. The project will establish the facility on 37 acres to allow for the necessary equipment, storage, transportation and parking.
“Tri-Arrows Aluminum is honored to continue its long-standing relationship with the Russellville and Logan County community,” said TAA President and CEO Henry Gordinier. “We are excited to share in this project with Tennessee Aluminum Processors. The new facility’s proximity to Logan Aluminum was a key factor in determining site location.”
“We are excited to expand our aluminum recycling capabilities with a new, state-of-the-art facility located centrally in a region experiencing tremendous growth in the aluminum sector,” said Jared Sweeney, TAP CEO. “We have been very impressed by the accommodating and efficient pro-business atmosphere encountered while working on this project with representatives of Russellville, Logan County and the Commonwealth of Kentucky.”
Located in Louisville, Kentucky, Tri-Arrows Aluminum is a leading supplier of rolled aluminum sheet in the North American market focusing on the beverage can sheet and automotive sheet markets. The company is involved in a joint venture that owns the Logan Aluminum manufacturing facility in Russellville, Kentucky, which provides TAA with access to unparalleled production facilities, market networks and R&D capabilities. Founded in 1981, TAP provides a variety of secondary aluminum recycling services to customers in the transportation, packaging, construction and aerospace segments of the aluminum industry. As a toll converter of aluminum scrap and dross, the company converts aluminum into recycled secondary ingot – ensuring the highest possible aluminum recovery and reliable quality.
Logan County Judge/Executive Phil Baker noted the region’s thriving aluminum industry and welcomed the joint venture to Russellville: “Logan County is thrilled to welcome Kentucky Aluminum Processors. Their selection of our community for this project is outstanding news for our citizens. The aluminum industry is thriving, and we are happy to be a part of it!”
Russellville Mayor Mark Stratton expressed his appreciation for Kentucky Aluminum Processors choosing to locate their new facility in Russellville: “On behalf of the city of Russellville, we are blessed that Kentucky Aluminum Processors has chosen to invest here in our community. Their decision to establish operations and create new job opportunities in Russellville and Logan County is deeply valued and appreciated.”
Brooke Waldrup, president and CEO of the Logan Economic Alliance Development (LEAD), is excited about the jobs and economic opportunity the project will bring to the community: “We are extremely excited that Kentucky Aluminum Processors has chosen Logan County’s West Industrial Park as their new processing facility location. This project will not only create new jobs in our county, but it will also support our county’s largest manufacturer, Logan Aluminum. Being able to create new jobs while supporting a local existing industry is a huge win for Logan County!”
Jim DeCesare, former LEAD executive director, highlighted the achievement for the area and future economic impact it will have: “I’m honored to have played part in the locating of the aluminum processing facility in the West Industrial Park, marking a transformative moment for the community. With a significant investment and the creation of numerous new jobs, this project is poised to have a resoundingly positive economic impact. I am thrilled to witness this milestone that will not only strengthen the local economy but also showcase the region's potential for growth and prosperity.”
Kentucky Aluminum Processors’ investment and job creation build on the best four-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling over $32 billion in announced investments, creating approximately 55,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and INFAC North America’s $53 million investment in Taylor County, among others.
The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.
Kentucky also secured rating increases from major credit rating agencies Fitch Ratings and S&P Global Ratings, and Moody’s Investors Service upgraded Kentucky’s credit outlook from stable to positive.
In March, Site Selection magazine ranked Kentucky third nationally and first in the South Central region for economic development projects per capita in its 2023 Governor’s Cup rankings. In April, Site Selection placed Kentucky second in the South Central region and in the top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.
Gov. Beshear announced a “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in May 2023 preliminarily approved an incentive agreement with the company under the Kentucky Business Investment program.
Additionally, the company was approved for additional 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.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Kentucky Aluminum Processors can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
For more information on Tri-Arrows Aluminum, visit triaa.com.
To learn more about Tennessee Aluminum Processors, Inc., visit tap-rsi.com.
A detailed community profile for Logan County can be viewed here.
###