Kentucky: Feralloy to create 30 jobs with steel processing plant in Gallatin CountyChristian Fernsby ▼ | July 13, 2020
Feralloy Corp., a Chicago-based steel processing company, plans to locate a 30-job, $17.5 million facility on Nucor Steel Gallatin’s campus near Ghent to level and cut steel for customers throughout the Ohio Valley region.
Topics: Kentucky Feralloy
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. ■