Gov. Beshear: Land Swap Boosts 300-Job McCracken County Project

Uranium enrichment facility would create hundreds of full-time jobs, open land to hunting and fishing

FRANKFORT, Ky. (Nov. 27, 2024) - Today, Gov. Andy Beshear announced an important step in a potential major economic development project in McCracken County as Global Laser Enrichment LLC (GLE) finalized a land transfer with the Commonwealth of Kentucky. The proposed uranium enrichment project would create up to 300 full-time jobs for Kentuckians.

"Moving our commonwealth forward takes cooperation and innovation, and this important project is the product of a lot of both," Gov. Beshear said. "Our economy continues to break records, and this project has the potential to create hundreds of great new full-time jobs for our people and those moving to our New Kentucky Home."

GLE is acquiring 665 acres previously owned by the Kentucky Department of Fish and Wildlife Resources through an agreement with the commonwealth, Kentucky Fish and Wildlife and the Paducah-McCracken County Industrial Development Authority. GLE has a contract with the U.S. Department of Energy (DOE) to process uranium stored from past activities at the Paducah Gaseous Diffusion Plant. GLE plans to establish a new uranium enrichment facility on the acquired site. This facility will use advanced laser enrichment technology to efficiently convert the stored uranium into new nuclear fuel, while also speeding up cleanup activities at the legacy site.

Formed in 2007, GLE develops laser-based uranium enrichment technology capability in the United States. Uranium is the primary fuel for nuclear power plants that produce a significant portion of the world's clean energy. GLE's laser-based technology provides increased efficiency to the enrichment process compared with existing methods.

The scale and timeline of the project are contingent on DOE funding, Nuclear Regulatory Commission licensing and support from industry, community and state partners.

The greenfield site is strategically located adjacent to the former DOE first-generation Paducah Gaseous Diffusion Plant (PGDP). The facility was shut down in 2013 after decades of operation.

"We greatly appreciate the collaborative efforts of our community and state partners in Kentucky that have been instrumental in finalizing this land acquisition," said GLE CEO Stephen Long. "We are excited to continue our partnership with the commonwealth as we work towards a commercialization decision and maintaining our deployment target date of no later than 2030."

Kentucky Fish and Wildlife Land Transfer
Kentucky Fish and Wildlife and its commission agreed to a land exchange that was key to this development. In exchange for 665 acres of the West Kentucky Wildlife Management Area (WMA), Kentucky Fish and Wildlife will accept ownership of 1,043 acres in Fulton County acquired by the Paducah-McCracken County Industrial Development Authority and funded by GLE.

The new Fulton County property is adjacent to the Mississippi River and will be added to the Obion Creek WMA. The Choate Tract, as it will be called, will be owned and managed by Kentucky Fish and Wildlife and is expected to open to statewide regulations for hunting and fishing in spring 2025. The transferred portion of West Kentucky WMA will remain open to public use through Feb. 28, 2025.

"This was a creative and carefully constructed exchange that will not only benefit Paducah and nearby communities, but it will also benefit many wildlife species and the outdoors enthusiasts who visit Western Kentucky," said Rich Storm, commissioner of Kentucky Fish and Wildlife. "The additional acreage on Obion Creek WMA will provide much needed public hunting access, hiking, wildlife viewing and other wildlife related opportunities in an area where these are not readily available."

Historically, the Choate property has been used for agricultural purposes, but portions are frequently flooded by the Mississippi River. In 2023, the property was enrolled into the Wetland Reserve Easement Program with the U.S. Department of Agriculture National Resource Conservation Service with plans to restore the property to a bottomland hardwood forest and wetland complex that will be especially attractive to waterfowl.

This significant step forward in this job-creation project builds on the best four-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling nearly $34 billion in announced investments, creating roughly 57,500 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth's history.

The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in 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; Shelbyville Battery Manufacturing's $712 million investment, creating 1,572 jobs in Shelby County; and INFAC North America's $53 million investment in Taylor County, among others.

The Governor's administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody's Investors Service.

In March, Site Selection magazine ranked Kentucky third nationally and first in the South Central economic development projects per capita in its 2023 Governor's Cup rankings. In April, Site Selection placed Kentucky second in the South Central region and top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear announced a Supply Kentucky initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies. And this month, the Governor 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 GLE, visit GLE-US.com.

A detailed community profile for McCracken County can be viewed here.

Information on Kentucky's economic development efforts and programs is available at CED.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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