Kaiser Addition Expected to Bring Big Economic Impact
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Officials say a new $150 million addition to California-based Kaiser Aluminum Corp.’s (Nasdaq: KALU) facility in Warrick County will have a major impact on the community. Our partners at WEHT-TV report the project, which will add a new coating line, could generate an estimated $1.5 billion in indirect and induced economic output.
The figure comes from an economic analysis of the project conducted by accounting firm Ernst & Young.
The project, which Kaiser Aluminum Warrick Operations Manager Evan Quinley says is the third largest investment in the county’s history, will add 100,000 square feet of space and 10 jobs.
“But what’s more important is this going to be a launch pad for future investment that will grow the overall capacity of the plant and provide for many more jobs down the road,” Quinley tells WEHT.
Brock Herr, senior vice president for business development at the Indiana Economic Development Corp., says the project will have a larger impact beyond the local level.
“You talk about an investment of this size in Warrick County and this region, obviously Warrick County immediately is going to feel the benefits but Evansville and the region more broadly,” Herr said. “You’re going to see workforce, you’re going to see investment in the community, quality of life.”
Kaiser plans to have the facility operational by the end of the year.