KEDFA’s monthly report, released Thursday, listed plans for EnerBlü, an American-owned company focused on energy storage for high-power military and commercial vehicles.
The Riverside, Calif.-based company plans to build a $372 million power battery production plant in Pikeville. The plant would initially employ 300 workers, with plans to increase to 875 employees in its fourth year of operation. The average wage target is $39 an hour, including benefits.
The company also plans a $40 million headquarters in Lexington. The headquarters would start with 25 employees and increase to 110 in its fourth year of operation, according to KEDFA. Workers there would earn an average wage of $52 an hour, including benefits.
The KEDFA board approved a total of $30 million in tax incentives for both projects.