Study: Braidy Industries to have $2.8 billion impact on Commonwealth
ASHLAND, Ky. – A new report details the impact of Braidy Industries will have on the state, as well as a six-county region in and around its site at the EastPark Industrial Center.
According to a report by Dr. James V. Koch, board of visitors professor emeritus of economics at Old Dominion University, construction through first-year production of the Braidy Atlas Mill in 2021 will add $2.8 billion in economic growth the state ad $1.54 billion in a six-county region in Appalachia Kentucky.
The study utilized the U.S. Department of Commerce’s RIMS-II economic impact model.
Jared Arnett, executive director of SOAR, said the economic impact of Braidy Industries will also have ripple effects that will be felt throughout the region and the state.
“A project of this magnitude has the potential to serve as a catalyst to further community and economic development efforts throughout Eastern Kentucky,” said Arnett. “This is an exciting project, and the team at Braidy Industries continue to be a champion for Appalachia Kentucky, our workforce, and the potential our region has to be a player in a global economy.”
The work of Braidy Industries aligns with SOAR’s Regional Blueprint goal of Industrial Recruitment.
Nate Haney, senior vice president of government relations and president of the newly-formed Braidy Real Estate, is an executive board member of SOAR.
Learn more about the economic impact of Braidy Industries HERE.