ASHLAND, Ky. — Ashland Mayor Steve Gilmore discussed growth in the city and gave an overview of the local Tax Increment Financing program to the Ashland Rotary Club on Monday.
Gilmore referred to Braidy Industries’ upcoming $1.3-billion aluminum rolling mill in South Shore, saying it has “opened the floodgates” for other businesses to start looking at Ashland and its surrounding areas.
He touched on these potential companies, saying they will bring more people to the area.
“Because of the magnitude of Craig Bouchard’s (Braidy CEO) work, a lot of companies not affiliated or associated with the aluminum industry, when they see him coming to little South Shore, Ky. ... they know he knows something,” said Gilmore.
Braidy will create 550 advanced manufacturing jobs and offer an average salary of $70,000. The 4-million-square-foot mill is set to open in 2020.
Gilmore also talked about the city and county’s approval of establishing a local TIF program. Community and Economic Development Director Chris Pullem assisted Gilmore with explaining how the program works.
The program would draw from future increases in city and county tax revenue generated by new developments inside the city’s mapped- out TIF district, which would be called the “Ashland Plaza Development Area.” This would exist inside the limits of 14th Street, Bath Avenue, 16th Street and Greenup Avenue.