Gov. Beshear: Alta Alloys To Invest $20 Million,
Expand With New Headquarters and Operations
in Simpson County, Creating 45 Kentucky Jobs
Company to relocate headquarters and expand manufacturing capabilities
FRANKFORT, Ky. (July 22, 2025) – Today, Gov. Andy Beshear highlighted new momentum within the state’s manufacturing and metals industries, as Alta Alloys LLC, a specialty processor of titanium, nickel alloys and other super alloys, will relocate its company headquarters and expand its operations with a new facility in Simpson County, a $20 million investment expected to create 45 new, high-quality skilled manufacturing jobs.
“I’m proud to welcome Alta Alloys to their New Kentucky Home, as they invest in Simpson County and create 45 new jobs for our people,” said Gov. Beshear. “This company’s decision to relocate and expand here in our commonwealth shows that Kentucky is the best place to do business. Together, we’re going to ensure a bright future for this company, our manufacturing industry and our economy.”
Alta Alloys’ investment includes the acquisition of a 105,000-square-foot building, construction of a separate building on the project site and the addition of several large pieces of processing equipment. The new operation expands on the company’s existing presence in California, allowing the company to be closer to its customers. The project is set to create 45 quality Kentucky jobs. Construction at the site is currently ongoing, with operations expected to commence by the first half of 2026.
“Establishing our new corporate headquarters in Franklin, Kentucky, marks a monumental step for Alta Alloys, and I am thrilled to be relocating here to Kentucky to personally oversee this expansion,” said Alta Alloys President Nick Polites. “Franklin’s compelling attributes – from its central location to its demonstrably business-friendly atmosphere – make it the perfect home for our new headquarters. We look forward to harnessing these opportunities to drive substantial growth for Alta Alloys and becoming a dedicated partner in the community.”
Currently based in Sante Fe Springs, California, Alta Alloys is a specialty processor of titanium, nickel alloys and other super alloys that provides guaranteed chemistry, furnace-ready recycled product to smelters. The metal processed by Alta Alloys is used to manufacture complex components that end up in commercial and military aircraft, rockets, satellites, automobiles and other specialized products.
Simpson County Judge/Executive Mason Barnes highlighted the positive impact the new jobs will bring to the community: “Alta Alloys’ investment marks a major win for Simpson County. These 45 new jobs will directly support local families and help drive future economic growth. We’re proud to see industries thrive here, and we look forward to a long, successful partnership.”
Franklin Mayor Larry Dixon: “We are thrilled to welcome Alta Alloys to Franklin. Their investment brings not only new jobs, but also innovation and long-term value to our local economy. This is another strong step forward in Franklin’s ongoing growth and success.”
Jim DeCesare, executive director of the Franklin-Simpson Industrial Authority: “Alta Alloys’ decision to locate in Franklin is a testament to the strength of our community, workforce and industrial infrastructure. This $20 million investment and the creation of 45 new jobs reinforce our commitment to attracting high-impact industry and growing opportunity right here in Franklin-Simpson.”
Alta Alloys’ investment and job creation build on the best five-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,200 private-sector new-location and expansion projects totaling over $36 billion in announced investments, creating more than 62,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $15 billion more than the next highest total.
The robust job creation has been accompanied by rising wages across the commonwealth. Since 2022, the average incentivized hourly wage has topped $26 in three consecutive years for the first time.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby County, among others.
The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.
Kentucky also secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody’s Investors Service.
Earlier this year, Site Selection magazine ranked Kentucky in the top five nationally and second in the South Central region for economic development projects per capita in its 2024 Governor’s Cup rankings. Site Selection also placed Kentucky second in the South Central region and No. 6 nationally in its 2025 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.
Gov. Beshear also announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in August 2024 preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $2 million in tax incentives based on the company’s investment of $20 million and annual targets of:
- Creation and maintenance of 45 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $51 including benefits across those jobs.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Alta Alloys can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
For more information on Alta Alloys, visit altaalloys.com.
A detailed community profile for Simpson County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at NewKentuckyHome.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
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Gov. Beshear: Federal Public Assistance Approved for Communities Affected by Severe Weather in April and May
FRANKFORT, Ky. (July 23, 2025) – Today, Gov. Andy Beshear announced that President Donald Trump has approved Public Assistance for 64 counties affected by severe storms, straight-line winds, tornadoes, flooding, landslides and mudslides on April 2, 2025, and 36 counties affected by severe storms, straight-line winds and tornadoes on May 16-17, 2025.
“Great news – the President has approved the Public Assistance we’ve been waiting on for the communities affected by severe weather in April and May,” said Gov. Beshear. “We never gave up hope and are excited that these counties and communities are going to see the support they need and deserve.”
The President reached out to Gov. Beshear by phone personally to let him know about the funding approved for Public Assistance. The Governor thanked President Trump and told him how well the FEMA teams were conducting operations in Kentucky.
The counties that have been designated for Public Assistance for the April flooding are Allen, Barren, Breathitt, Breckinridge, Butler, Caldwell, Calloway, Caldwell, Campbell, Carroll, Carter, Casey, Christian, Clark, Edmonson, Elliott, Estill, Floyd, Franklin, Gallatin, Garrard, Graves, Grayson, Green, Greenup, Hancock, Hart, Henderson, Hickman, Hopkins, Jackson, Jefferson, Johnson, Kenton, Larue, Lawrence, Lee, Logan, Lyon, Magoffin, Marion, Martin, McLean, Meade, Metcalfe, Morgan, Muhlenberg, Nelson, Nicholas, Owen, Owsley, Pendleton, Perry, Rockcastle, Spencer, Taylor, Trigg, Trimble, Union, Warren, Washington, Webster, Wolfe and Woodford.
The counties that have been designated for Public Assistance for the May tornadoes are Adair, Barren, Breathitt, Butler, Caldwell, Carlisle, Casey, Christian, Clay, Clinton, Crittenden, Estill, Jackson, Knott, Knox, LaRue, Laurel, Lee, Livingston, Logan, Lyon, Marshall, McCreary, Menifee, Metcalfe, Owsley, Powell, Pulaski, Rockcastle, Russell, Spencer, Todd, Trigg, Union, Warren and Wayne.
How To Help Survivors: The Team Kentucky Storm Relief Fund was established after the severe weather in February and will serve survivors of that and additional natural disasters. As with previous relief funds, these dollars will first help pay for victims’ funeral expenses. To donate, click here.
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Gov. Beshear: Alltech To Expand in Nicholasville
With Nearly $4.6 Million Investment Creating Six
New Manufacturing Jobs
Family-owned company awarded $2.34 million USDA grant to support expansion
FRANKFORT, Ky. (July 24, 2025) – Today, Gov. Andy Beshear announced further growth of the commonwealth’s agricultural manufacturing industry as Alltech will move ahead with an expansion of its operation in Jessamine County, a nearly $4.6 million investment that will create six new jobs. The expansion is partially funded by a $2.34 million award from the U.S. Department of Agriculture’s Fertilizer Production Expansion Program.
“Kentucky’s manufacturing and agriculture sectors have been crucial in contributing to our state’s recent economic momentum,” said Gov. Beshear. “We continue to see global companies like Alltech invest and reinvest in the commonwealth and our communities, providing quality jobs for Kentuckians. I want to thank Alltech’s leaders for their years of commitment and investment in Kentucky and congratulate the company on receiving this award from the USDA. I look forward to seeing Alltech’s successful expansion in Nicholasville.”
Located at the company’s global headquarters in Nicholasville, the new facility will be Alltech’s first U.S. manufacturing plant dedicated solely to producing crop science solutions. It will produce biological fertilizers and crop inputs, producing over 66,000 gallons of biological fertilizer products per shift per month and will require the creation of six new manufacturing jobs. Modeled after the company’s crop science production facilities in Brazil and Spain, the new manufacturing plant will produce more than 30 products that help farmers enhance soil and crop vitality and reduce chemical inputs. Made with beneficial microorganisms, Alltech’s biofertilizers improve soil fertility, stimulate root development, enhance nutrient uptake and support a healthier soil microbiome. These biological solutions provide farmers an environmentally sustainable alternative to traditional synthetic inputs while also reducing their vulnerability to global economic pressures and supply chain disruptions. Nationally, this project’s impact enables the export of domestic technologies, driving international uptake of U.S. products and supply chain resiliency for U.S. growers. In addition, Alltech’s new facility will be instrumental in growing the offering of its in-market sustainable technologies domestically and internationally. Alltech plans to break ground on the new crop science production plant in October.
“We are proud to expand our presence here in Kentucky, where Alltech was founded and continues to thrive,” said Dr. Mark Lyons, president and CEO of Alltech. “Our deep expertise in microbial fermentation has revolutionized crop nutrition, delivering solutions that improve soil and plant health, activate plants’ natural defense systems, boost productivity and reduce agriculture’s environmental footprint. This investment in U.S. production scales the accessibility of our natural solutions, contributing to the long-term health of our soils, crops and ecosystems, and human nutrition and well-being.”
“This USDA grant is a major step forward for farmers seeking more sustainable solutions,” said Dr. Steve Borst, vice president of Alltech Crop Science. “By expanding our production capabilities here in Kentucky, we are investing in our local economy, providing farmers with high-quality biological solutions that improve soil and crops and contributing to a more resilient agricultural system.”
Founded in 1980 by Irish entrepreneur and scientist Dr. Pearse Lyons, Alltech delivers smarter, sustainable solutions for agriculture. Headquartered just outside of Lexington, Alltech serves customers in more than 140 countries, has five bioscience centers and operates more than 75 manufacturing facilities across the globe. With more than 5,000 team members worldwide, the family-owned company is a leader in the agriculture industry, producing specialty ingredients, premixes, supplements, feed for animal nutrition and biological solutions for crops and soil. Alltech’s diverse portfolio of products and services improves the health and performance of animals and plants, resulting in better nutrition for all and a decreased environmental impact. Alltech Crop Science is the agronomic division of Alltech, which leverages expertise in microbial fermentation and nutrigenomic research to produce science-backed biological solutions that foster soil balance, maximize crop yields, improve plant health and resilience, and promote sustainability and value creation across the food chain.
Jessamine County Judge/Executive David West showed support for the project: “We are exceedingly pleased for this expansion, for the opportunity it provides for employment and betterment for Jessamine County. We were honored to support Alltech in this endeavor.”
Nicholasville Mayor Alex Carter spoke on the impact the expansion will have on the community: “Alltech Crop Science’s expansion is a win for Kentucky agriculture and for the future of sustainable farming in America. This investment brings a new facility that will create good jobs, drive innovation and provide our farmers with the tools they need to thrive. I’m proud to support a project that strengthens food security and promotes innovation right here in Nicholasville, Kentucky.”
Alltech’s investment and job creation build on the best five-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,200 private-sector new-location and expansion projects totaling over $36 billion in announced investments, creating more than 62,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $15 billion more than the next highest total.
The robust job creation has been accompanied by rising wages across the commonwealth. Since 2022, the average incentivized hourly wage has topped $26 in three consecutive years for the first time.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby County, among others.
The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.
Kentucky also secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody’s Investors Service.
Earlier this year, Site Selection magazine ranked Kentucky in the top five nationally and second in the South Central region for economic development projects per capita in its 2024 Governor’s Cup rankings. Site Selection also placed Kentucky second in the South Central region and No. 6 nationally in its 2025 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.
Gov. Beshear also announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.
For more information on Alltech, visit Alltech.com.
A detailed community profile for Jessamine County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at NewKentuckyHome.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
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Gov. Beshear Provides Team Kentucky Update
FRANKFORT, Ky. (July 24, 2025) – Today, Gov. Andy Beshear provided an update on economic development, the General Fund surplus, severe weather recovery, funding for affordable housing and more Kentuckians attaining their GEDs. The Governor named Jimmy Alexander, Jessica Alexander, Taylor Hall and Adam Arnold, good Samaritans who helped to save a Kentucky State Police officer’s life, as this week’s Team Kentucky All-Stars.
Economic Development
Gov. Beshear announced yet another innovative company will establish its New Kentucky Home as Meridian Biotech will open a new facility in Franklin County. The project, part of a partnership with Buffalo Trace Distillery to convert distillery byproducts into multifunctional alternative proteins, includes a $40 million investment and will create up to 35 high-tech, well-paying jobs. Brandon Corace, president of the company, joined the Team Kentucky Update to talk about this exciting announcement.
The Governor announced further growth of the commonwealth’s agricultural manufacturing industry as Alltech Crop Science will move ahead with an expansion of its operation in Jessamine County, a nearly $4.6 million investment that will create six new jobs. The expansion is partially funded by a $2.34 million award from the U.S. Department of Agriculture’s Fertilizer Production Expansion Program. The vice president of Alltech Crop Science, Dr. Steve Borst, attended the news conference to speak about this project.
Gov. Beshear highlighted new momentum within the state’s manufacturing and metals industries as Alta Alloys LLC, a specialty processor of titanium, nickel alloys and other super alloys, will relocate its company headquarters and expand its operations with a new facility in Simpson County, a $20 million investment expected to create 45 new, high-quality skilled manufacturing jobs.
General Fund Surplus
The Governor announced that fiscal year 2025 ended with a General Fund surplus of approximately $313.5 million. Of that amount, $251.3 million will be deposited into the Budget Reserve Trust Fund, and the remaining $62.1 million will fund necessary government expenses, such as responding to natural disasters, matching funds for Federal Emergency Management Agency (FEMA) disaster grants and forest fire suppression. Kentucky has secured a surplus every year of the Beshear-Coleman administration.
Severe Weather Recovery
On Wednesday, Gov. Beshear announced that President Donald Trump approved Public Assistance for 64 counties affected by severe storms, straight-line winds, tornadoes, flooding, landslides and mudslides on April 2, 2025, and 36 counties affected by severe storms, straight-line winds and tornadoes on May 16-17, 2025.
Today, the Governor announced that even more counties have been approved for Public Assistance. Now, all counties Kentucky requested support for have been granted Public Assistance: 90 for the April 2 event and 39 for the May 16-17 event. See a full list of counties approved for floods and tornadoes.
For the May 16-17 severe weather and tornadoes, the deadline to apply for Individual Assistance has been extended to Aug. 22, 2025. Since the commonwealth received approval, FEMA has disbursed over $2.8 million in assistance. Click here for a fact sheet on how to apply for FEMA assistance.
For the May event, 23 households are being housed in travel trailers at Levi Jackson Wilderness Road Park, seven households are being sheltered in hotels and 56 households have transitioned out of the Commonwealth Sheltering Program.
Rebuilding in Eastern Kentucky
Yesterday, Gov. Beshear joined local officials in Floyd County to break ground on the future site of New Hope Estates. The neighborhood will comprise 34 homes for flood survivors in Eastern Kentucky and will be located along Cliff Road and Old Cliff Road in Prestonsburg.
The Governor also visited the neighborhood of Wayland, in Floyd County. Wayland was the first high-ground neighborhood to be completed for flood survivors and includes 11 homes, with more coming. In Letcher County, the Cottages at Thompson Branch, which includes 10 homes for flood survivors, was completed in May.
$2.5 Million for Affordable Housing
Gov. Beshear announced $2.5 million in Community Development Block Grant awards to support affordable housing.
- The city of Franklin is receiving $1 million to support the construction of six new affordable rental homes. This is part of the Franklin Affordable Housing organization’s Dixon Grove development project, which will eventually build 69 rental homes.
- The city of Newport will receive nearly $1 million to build five affordable homes.
- Pulaski County is receiving $540,000 to assist the county in purchasing 86 affordable apartment units.
GED Success Rate
Gov. Beshear announced that, since waiving the GED fee in his first term, more Kentuckians without a high school diploma are earning their GED, with a success rate that surpasses the national rate.
Team Kentucky All-Stars
The Governor named Jimmy Alexander, Jessica Alexander, Taylor Hall and Adam Arnold, good Samaritans who helped to save a Kentucky State Police (KSP) officer’s life, as this week’s Team Kentucky All-Stars.
On July 13, KSP Trooper Jude Remilien was shot in the leg outside the Blue Grass Airport while protecting the Lexington community. Jimmy, Jessica, Taylor and Adam, an airport police officer, worked together to apply pressure and a tourniquet to Trooper Remilien’s leg and used Trooper Remilien’s radio to call for help. In addition to naming them this week’s Team Kentucky All-Stars, Gov. Beshear commissioned each of these good Samaritans a Kentucky Colonel.
“Thank you all. Working together, you saved a life. You jumped into action without a second thought, and you showed the world the best of Kentucky,” said Gov. Beshear. “Your actions remind us of the good in this world. You are truly what makes Team Kentucky so special.”
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Gov. Beshear to President Trump:
Oppose Move To Block Rescheduling of Cannabis
FRANKFORT, Ky. (July 25, 2025) – Gov. Andy Beshear sent a letter to President Donald Trump this week asking the President to oppose congressional appropriations language that would block the Drug Enforcement Administration (DEA) from rescheduling marijuana under the Controlled Substances Act. If rescheduling is seen through, marijuana would be reclassified from a Schedule I drug to a Schedule III drug, which is less restrictive.
“Patients suffering should have access to safe cannabis for treatment, and rescheduling would help provide more Americans – and Kentuckians – relief,” said Gov. Beshear. “This step would also help make our communities safer and fuel more meaningful research around cannabis that could help more people.”
In the spring of 2024, the DEA proposed a rule that would reschedule marijuana from Schedule I to Schedule III, which would define marijuana as having a moderate to low potential for physical and psychological dependence. The proposal was made at the urging of the U.S. Department for Health and Human Services, which recognizes that cannabis has medical uses and is currently being used for medical purposes.
Earlier this month, the U.S. House Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies passed Fiscal Year 2026 appropriations language that would prohibit the U.S. Department of Justice, under which the DEA operates, from using funds to reschedule cannabis from its current Schedule I listing.
“This is not common-sense law,” wrote the Governor in his letter to the President. “It stops a process that is already underway to accomplish a policy end that is overwhelmingly supported by the medical and scientific communities as well as the American people – of every political party. Congress should not take the decision-making process out of the hands of medical and scientific experts when they don’t like the results.”
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