Bringing More Than 250 Jobs to Bell County, Kentucky
The Bell County Fiscal Court and the Bell County Industrial Development Foundation sponsored this federal and Kentucky New Markets Tax Credit project for the construction of a site and facility for Flash Steel, Inc. The project involves the acquisition of 20 acres in Middlesboro, Kentucky and the construction of a 30,000 square foot manufacturing facility that will house a new production line for Flash Steel.
Flash Steel manufactures specialty steel products and this new facility will produce thick-plate steel for the United States Department of Defense. The Department has received funding for the acquisition of this production and has executed contracts with Flash Steel that stipulate that the thick-plate steel being acquired must be produced in Middlesboro, Kentucky.
The new production line will create approximately 250 jobs. The jobs created will have above-average wage and benefits rates, and the indirect jobs will be concentrated within the transportation and manufacturing supply sectors due to the facility’s production and customer locations.
Bell County is in southeastern Kentucky and has experienced severe job losses over the past few years due to the contraction of the coal industry. This project, once completed, will be of great impact to the county and region due to the continuing high unemployment and poverty numbers along with the company’s expected growth due to the Department of Defense’s need for the type of steel being produced by Flash Steel.
