Global Laser Enrichment is coming to Paducah with a $1.76 billion investment.

The company, which is the "exclusive worldwide licensee" of the laser technology for uranium enrichment, is expected to bring 240 full-time jobs to McCracken County and marks the single-largest capital investment project in Western Kentucky history, Gov. Andy Beshear said during a March 26 press conference.

The project is another indicator of renewed interest in the Paducah Gaseous Diffusion Plant, which produced enriched uranium as feedstock for the U.S.'s nuclear weapons program and later for use in nuclear power plants, until its closure in 2013. General Matter announced a $1.5 billion uranium enrichment project for the same area last year, which marked the "largest economic investment ever for Western Kentucky" at that time, according to Beshear.

Enrichment is the process of refining uranium by separating the uranium-235 isotope and increasing its concentration, in turn creating a viable fuel. Nuclear power plants generate electricity by splitting the U-235 atom in a process called fission, which produces heat used to turn a steam turbine connected to a generator.

Global Laser Enrichment aims to re-enrich more than 200,000 metric tons of depleted uranium at the site under contract with the U.S. Department of Energy, according to a news release from the state. The company's project in Paducah is undergoing license application review by the Nuclear Regulatory Commission.

"I am excited about the new investment," Beshear said, "and the hundreds of new job opportunities it will create for families in Paducah and the surrounding region."

State tax incentives will also support the project.

"This incentive package today represents a shared vision in economic development, community revitalization, technological leadership and establishment of a revitalized nuclear fuel supply chain here in the U.S.," said Stephen Long, CEO of Global Laser Enrichment.

The U.S. Department of Energy also awarded Global Laser Enrichment $28.5 million for the project, which will occupy a 665-acre site adjacent to the gaseous diffusion plant.

The Trump administration has shown support for the nuclear industry, while pulling federal support from renewable energy projects around the country. Kentucky's Republican-led legislature has also taken steps to build the state's nuclear power sector from the ground up, after a long-standing moratorium on nuclear plants was removed in 2017.

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"This project solidifies our role as a leader in the country's nuclear power sector," Beshear said in the release, "and will transform our economy, creating opportunities for Kentucky families for generations."

The March 26 announcement was the largest in a slew of economic development investments that totaled nearly $3 billion this week, Beshear said.

In addition to Global Laser Enrichment, companies including Cardinal Manufacturing, Slate Auto, AXN Automotive Systems and Steuart Nutrition have all been approved for multi-million dollar investments across the commonwealth.

Additionally, the governor said following the March 26 project announcements and approval by the state that Kentucky has secured more than $4.4 billion in investments in the first quarter of 2026 — setting a state record.

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Contact Business Reporter Olivia Evans at oevans@usatodayco.com or on X at @oliviamevans_. Contact environmental reporter Connor Giffin at cgiffin@courier-journal.com or on X @byconnorgiffin.

This article originally appeared on Louisville Courier Journal: Kentucky gets $1.76 billion nuclear investment, will create 240 jobs