Since 2008 manufacturing in the United States has added more than a million new jobs, and today that momentum continued with a major announcement by Novelis, Inc.—spurred on, in part, by the recently enacted tax reform legislation.
The global leader in aluminum rolled products and the world’s largest recycler of aluminum broke ground this week on its $300 million automotive aluminum sheet manufacturing facility in Guthrie, Kentucky. This new investment, made possible due to tax reform and a “favorable economic environment,” will create approximately 125 new jobs:
Novelis Inc., the world leader in aluminum rolling and recycling, today hosted community members, federal, state and local officials to break ground on its $300 million automotive aluminum sheet manufacturing facility in Guthrie, Kentucky …. a 400,000-square-foot facility that will create approximately 125 jobs and produce annual nameplate capacity of 200,000 metric tons.
“The significant positive impact of tax reform in the U.S. reinforces Novelis’ decision to expand at this time,” the company said. The National Association of Manufacturers’ Outlook Survey found earlier this year that tax reform has sparked a historic surge in hiring and capital investments in the manufacturing industry.
“It’s a prime example of the good news we’re hearing from across Kentucky and the country since Congress passed historic tax reform last year,” said Senate Majority Leader Mitch McConnell (R-KY) in a statement. “Today’s ground breaking exemplifies the remarkable promise ahead.”
Novelis is not new to supporting jobs in Kentucky, where it has operated for 34 years. The company employs 1,260 in the state, accounting for more than $146 million in wages and benefits each year.
“With the strong, highly skilled workforce in Kentucky, we believe our culture and commitment to building a sustainable world together will have a lasting and positive impact on this community,” said Steve Fisher, president and CEO of Novelis, in a statement.
In addition to the majority leader weighing in on the announcement, Sen. Rand Paul (R-KY), Congressman James Comer (R-KY-1) and Gov. Matt Bevin (R-KY) praised the decision. “These are the kinds of investments that are transforming Kentucky and transforming the industry,” said Bevin.
Read more about how manufacturers are fulfilling their promise on tax reform here.
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