Ironton Enterprises, a producer of merchant pig iron plans to invest $45.12 million in a new facility in West Paducah, which will preserve 66 jobs averaging $36 per hour with benefits.
State officials approved economic development incentives for the project this morning in Frankfort at a monthly Kentucky Economic Development Finance Authority board meeting.
To help retain Ironton Enterprises in Western Kentucky, the KEDFA board approved $1.5 million in tax breaks over the next 10 years if the company fulfills its plans to invest and create full-time, permanent jobs.
Ironton Enterprises LLC was formed in 2016 for the purpose of developing a recycle based program to produce merchant pig iron for use in the steel manufacturing and foundry businesses. The company is considering locating it’s pig iron production in McCracken County to construct a mini blast furnace.