The biggest economic development project in Western Kentucky history was announced Tuesday in Paducah.
Governor Andy Beshear announced a uranium enrichment facility, that includes a $1.5 billion dollar investment and 140 well-paying jobs.
Governor Beshear, U.S. Senators Mitch McConnell, Rand Paul and Congressman James Comer, joined with General Matter, an American uranium enrichment company, for the signing of a lease with the United States Department of Energy.
The lease was for the former Paducah Gaseous Diffusion Plant.
The signing of the lease paves the way for future milestones, including permitting, licensing and contractual terms with the Department of Energy.
Plans for the future facility include production of fuel needed for the next generation of nuclear energy to benefit manufacturing, artificial intelligence and other key industries.
Plans call for the enrichment of uranium by the year 2030.
