"Our state's primary metals industry continues to thrive despite the challenging economic climate. This significant investment by Nova Steel promises to bring over 100 well-paying jobs for Kentucky families in and around Bowling Green," Beshear said in a statement. 

The facility will be equipped for precision roll forming, laser cutting, tube bending and fabrication. It is set to open next summer, with two additional expansions representing an additional US$50 million investment, planned for the next three to five years.  

"We are very excited to be growing our company in the state of Kentucky and want to thank all those who have worked to help us reach this important milestone," said Nova Steel corporate vice president Tom Stearns. 

"The new facility will produce a variety of automotive parts used in the production of pickup trucks and SUVs. We believe that Bowling Green is the ideal location to achieve our growth plans and look forward to a long and successful relationship with the community."