Advance Nano Products has announced to setup a new manufacturingEV  facility in Kentucky with an investment of $50 million. Moreover, the new manufacturing facility is likely to add 93 new jobs in Elizabethtown.

Facility will expand on more than 22 acres

Advance Nano Products is a South Korea-based technology firm and has its subsidiary in United States operating under the name of ANP USA Inc. Recently, the company has announced to build 50,000 square foot facility. Moreover, the facility will expand on 22.6 acres on North Black Branch Road in Elizabethtown. Furthermore, ANP is a supplier of carbon battery nanomaterials which is an element of electric vehicle battery production. In addition, the factory’s location is near two major electric plants in Kentucky. Therefore, it will supply materials to nearby gigafactories. “This is just the tip of the iceberg.” Gov. Beshear said during his weekly news conference Thursday.

93 jobs will be created

In addition, the Korean company will bring 93 new jobs to the Kentucky region. According to the state economic development cabinet, Advance Nano Products will offer an average hourly wage of $35 to its employees. Moreover, they have agreed to extend incentives worth $2.6 million to ANP over the period of 10 years. Elizabethtown plant will be the Korean company’s first U.S. manufacturing facility. “It’s just part of the wave of ancillary supplier companies that are coming. We knew this would probably happen and it has happened. Building a factory in the U.S. is a lot different than building a factory somewhere else.” Andy Games, vice president of the Elizabethtown-Hardin County Industrial Foundation said in his statement.

Close proximity to two battery gigafactories

Previously, Ford and SK Innovation announced a joint venture to build a $5.8 billion battery plant in Glendale, Kentucky. The battery plant will employ about 5,000 workers. Furthermore, Japanese company Envision AESC also announced to build $2 billion battery gigafactory in Bowling Green which will create around 2,000 new jobs.

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