A steel company in northern Kentucky is investing $176 million in a new project line creating 75 jobs.Governor Matt Bevin said in a release on Thursday that Nucor Steel Gallatin is building a galvanizing line at its mill in Ghent, located in Carroll County along the Ohio River.
Nucor produces rolled steel sheets for the automotive, agriculture and energy industries. The new line would allow for more specific and specialized uses for the mill’s flat-rolled coils.
Installation work is set to begin later this year or early next year with a targeted completion in 2019.
Nucor is headquartered in Charlotte, North Carolina and employs 24,000 people at 200 facilities. The company purchased the Ghent mill for $780 million in 2014. The Kentucky mill currently employs 430 people.
The Kentucky Economic Development Finance Authority approved $4 million in tax incentives to the company through the Kentucky Business Investment program. KEDFA approved another $1 million in tax incentives through the Kentucky Enterprise Initiative Act.