Kentucky Gov. Andy Beshear announced a major milestone for an economic development project in McCracken County that will include a nearly $1.5 billion investment and create 140 well-paying jobs. The Governor joined other elected officials and leaders from General Matter, an American uranium enrichment company, to recognize the company’s signing a lease with the U.S. Department of Energy (DOE) for the former Paducah Gaseous Diffusion Plant.
The signing of the lease paves the way for future milestones, including permitting, licensing and contractual terms with the DOE that will move the project moving forward. When completed, the facility will represent the largest economic development project in Western Kentucky history.
“I want to congratulate the team at General Matter on this major step toward what will be the largest economic investment ever for Western Kentucky,” Gov. Beshear said. “This lease reflects Kentucky’s leadership in nuclear energy and our strong partnerships at the federal and local levels, as well as in the private sector. I am looking forward to being back in Paducah soon to celebrate the next key milestone for this exciting and historic project.”
General Matter collaborated with state and local leaders and the DOE for the plan to build a commercial uranium enrichment facility at the Paducah site that served as the first location in the United States for industrialized enrichment technology. Plans for the facility include production of fuel needed for the next generation of nuclear energy, which are vital for future growth of manufacturing, artificial intelligence and other key industries.
“Seventy-five years ago, the U.S. Atomic Energy Commission selected Paducah to help lead the nation’s original enrichment efforts,” said General Matter CEO Scott Nolan. “We are proud to return to and reactivate this historic site to power a new era of American energy independence, and we thank our partners in Kentucky and at the DOE’s Office of Environmental Management and the Office of Nuclear Energy for supporting us in this landmark investment in American nuclear infrastructure.”
General Matter is a privately funded American company focused on development of uranium enrichment technology to reshore domestic nuclear fuel capacity and power American energy production. The company’s team includes experts and engineers with backgrounds in nuclear, tech and government. The company was selected by the DOE as an awardee in both its low enriched uranium (LEU) and high-assay low enriched uranium (HALEU) enrichment acquisition programs and plans to enrich uranium at the Paducah site by 2030.
McCracken County Judge/Executive Craig Clymer spoke on the far-reaching impact of the proposed project: “General Matter will be a huge addition to economic development in McCracken County. The large number of high-paying construction jobs to build the plant alone, will be a tremendous local benefit. And the hiring of a great many employees at lucrative pay scale for decades to come will be outstanding. The benefits will not be just locally or regionally. McCracken County, Kentucky, will be recognized across the nation and the world as the location of a major source of nuclear energy fuel. The consensus is that nuclear energy is the future, and General Matter, here in our county, will be a major player.”
Paducah Mayor George Bray noted the community’s important history in the nuclear sector: “The historic investment that General Matter will make in Paducah/McCracken County underscores our community’s role as a partner with both the public and private sectors to help lead the United States into a new era of American energy independence. Paducah embraced the nuclear age 75 years ago and played a very important role in winning World War II. As the country now embraces a safe and clean nuclear energy to help meet the power demands of the future, the General Matter project validates the importance of the Department of Energy site that has been so important to Paducah. We appreciate the confidence shown in our community and we pledge to work hand in hand with General Matter to ensure that this project will be successful.”
Greater Paducah Economic Development President and CEO Bruce Wilcox highlighted the good-paying jobs associated with the project: “We appreciate General Matter’s partnership and their decision to locate in Paducah. Their investment is among the largest our community has seen in more than 75 years, bringing life-changing opportunities to our residents through strong wages and long-term careers. For many families, the DOE site is personal. Parents helped build it, their children work there today, and now the next generation has a chance to carry that legacy forward. We have full confidence in General Matter and share a unified vision to advance America’s energy independence with Paducah at the forefront of energy innovation.”