re: Pictures of ground breaking of $1.3 billion aluminum facility in Ky.... 1800 jobs

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And the tax $ handouts:

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Why does it bother you how Kentucky goes about attracting businesses?

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And this:

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So what? Again, why does it bother you how Kentucky or any other state goes about attracting businesses?


This is common with almost every state that is bidding for a big businesses to come to their area.

The state apparently pissed off both sides als0 1000 of those jobs are temporary

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Lawmakers were told only that Kentucky beat another state's offer to win an unspecified, $1.3 billion project that would create about 1,000 temporary construction jobs and 500 permanent ones somewhere in Eastern Kentucky

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Then there's the governor using state $ to buy 20% of the company his former cabinet members are board members.

Crony capitalism at its finest:

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Unlike information about Braidy Industries' investors and finances, it's easier to get details about the company's current executive lineup, which includes Nate Haney, a former deputy secretary for the governor's executive cabinet who is now Braidy's senior vice president of government relations.

Haney's LinkedIn account says he left the Bevin administration around December 2016. Bouchard said Price introduced him to Haney sometime later, and by June, Haney was working for Braidy Industries.

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LINK
Then if the company starts to fail ky may bail them out.

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Taxpayers are accustomed to seeing state and local governments draw up sweetheart deals with big businesses and sports teams at a gargantuan cost. Defenders of crony capitalism say opponents of such favoritism are shortsighted. Bribing corporations to move to their state, they say, ultimately benefits everyone by contributing to economic growth and growing tax revenues.

In trying to lure Amazon to Maryland with a multibillion-dollar package of subsidies and targeted tax breaks, Gov. Larry Hogan called Amazon’s proposed new headquarters the “single greatest economic development opportunity in a generation … that makes Maryland competitive with any state or city in the country — we’re playing to win.”

But what if narrow giveaways to business behemoths actually make states less competitive over the long run? A recent study by Troy University scholars demonstrates that “economic development” aid rarely delivers the goods of higher state growth and economic freedom. The results underscore the need for state taxpayers to remain vigilant against shortsighted attempts to lure in industry.

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Good Jobs First, a government watchdog, analyzed 4,200 state government contracts doled out from 2007 to 2014 and found that around 90 percent of monetary value accrued to large corporations, those with more than 100 employees. These enticements could, in theory, create a domino effect of prosperity for the host state and its residents. Data across states and localities show that government revenue is tightly correlated with economic growth and development. Government-led projects could more than pay for themselves, then, if they generate sufficient economic growth.

Yet this rarely happens. Of 32 peer-reviewed studies on the impact of targeted subsidies on the community at large, only three find a positive impact. Moreover, case studies examining development programs in Arkansas, Florida, and Missouri fail to show any correlation between subsidization and private job growth. The Troy University scholars also examined the impact on state corporate aid on the size of government, including tax rates and spending levels. Rather than make more money available in state coffers for tax reductions, the study’s authors find that “states that use targeted incentives most intensely have lower levels of economic freedom.”

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Washington examiner

Kentucky is rolling with these steel companies. My company built a steel mill in 2016-2017. We are currently building one now. We barely lost out on the Novellis project. Now I just heard about this one. Good for Kentucky. They must have some crazy state incentives.

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Why would anyone be surprised a company that is the benefactor of government protectionism is building a plant?

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It's not protection. It's a level playing field. There is a difference.

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They are charging their US customers 25% more than before. They should be cash flush.

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Video cards for computers are sky high now because of Bitcoin. It would be a perfect time for a new competitor to drive down the cost.

AND that's what is happening here. Plants opening everywhere. The cost will come down.

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Excuses. Excuses. It's ok to rob someone because it creates jerbs!!

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Robbing someone = charging tax. Not letting people keep their own money.

Only a committed commie would think like you do.

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Then there's the governor using state $ to buy 20% of the company his former cabinet members are board members.

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This is the part that bodes ill for Kentucky taxpayers. 20% is a $320 million investment in a company that was just founded in 2016 by Craig T. Bouchard, a writer of books. Bevin won the governership in 2015.

So, a novice entrepreneur convinces a carpetbagging governor, Bevin is a native of New Hampshire who has lived in Kentucky since 1999, to put the state's taxpayers on the hook for $320 million plus tax incentives. We have every right to be, and should be, very nervous about the viability of the plant.

Bevin has already made a clunker of a decision in giving the Ark Encounter, an Answers in Genesis project, massive tax incentives (many say illegally since AIG is a religious ministry) and roads. That $100 million "Christian Fantasyland" has stalled because of poor attendance and ridiculous admission costs and may go belly up within the next few years.

One has to speculate about the details of the deal Bevin made with Bouchard for the aluminum rolling plant. What happens to the $320 million if it never materializes? Is it a masterful scam perpetrated by Bevin and Bouchard? Will it validate Kentucky's reputation for having the most corrupt government in America?

Considering that Kentucky already has one of the biggest aluminum rolling plants in America in Hawesville, also on the Ohio River, the reality of another plant seems to be iffy at best.

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Considering that Kentucky already has one of the biggest aluminum rolling plants in America in Hawesville, also on the Ohio River, the reality of another plant seems to be iffy at best

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Pretty big plant in lewisport as well

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Pretty big plant in lewisport as well

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All other aluminum plants in Kentucky are below the Falls of the Ohio, near Louisville. This reduces the cost of shipping by river. The proposed plant near Ashland is above the falls. Doesn't make sense.