A steel company announced that it would build a $ 1.35 billion plant in a rural Kentucky county.

BRANDENBURG, Ky. (AP) – A steel company announced that it would build a $ 1.35 billion plant in a rural Kentucky county.

Nucor Corp. Wednesday announced the construction of the new steel plate factory in Brandenburg. Nucor's project in the community of Meade County, about 45 km southwest of Louisville, is expected to create 400 jobs. The company says the average salary will be about $ 72,000 a year.

The announcement was made shortly after economic development officials in Kentucky approved state incentives of about $ 40 million for Nucor.

The Kentucky Economic Development Finance Authority voted in favor of these incentives at an extraordinary meeting.

Governor Matt Bevin was among the representatives of the state and local communities involved in the announcement of economic development in Brandenburg.