The United States Secretary of the Treasury was in Elizabethtown, Kentucky Wednesday, along with Governor Andy Beshear, to tour the new Advanced Nano Products facility and deliver remarks.
ANP is a global supplier of carbon battery nanomaterials used in electric vehicle battery production. Thanks to state incentives and IRA incentives to lower the cost of electric vehicles for consumers and onshore clean energy manufacturing, ANP invested $49 million to construct a 50,000 square-foot facility in Elizabethtown. A ribbon cutting was held Wednesday at the facility.
Secretary Yellen says investments such as this, by individual companies and local, state and federal government, play a vital role in keeping communities alive.
She says the U.S. Treasury intends to do their part in boosting the economy, but investing in communities through outreach programs and working to reduce inflation.
She highlighted the progress of the Inflation Reduction Act, saying investments in the clean energy economy have disproportionately benefited communities where opportunity exists but there is greater need of initial public investment to unlock private capital and create good-paying job.