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Battery manufacturer Enerblu relocating to Kentucky from California

EnerBlu Inc., an energy-storage company, announced plans to invest over $400 million in Kentucky.

The company agreed to relocate from Riverside, Calif., in exchange for a multimillion-dollar incentive package in Kentucky and having the logistical advantage of being within a day's drive of 65% of the U.S. population.

The Kentucky Economic Development Finance Authority preliminarily approved tax incentives of up to $2.5 million for the company's new headquarters in Lexington and up to $27.5 million for its manufacturing facility in Pikeville.

"Eastern Kentucky has long played a significant role in the global energy market with its strong ties to the coal mining industry. With this announcement, the region will expand upon that concept as it enters into the renewable energy industry," the state said.

The manufacturing facility, called the Energy Innovation Park, will be built on the site of the former Marion Branch coal mine. The facility will make lithium-titanate batteries, electric commercial vehicles and other "grid-tied" products.

The facility is the result of a partnership that included American Electric Power Co. Inc. subsidiary Kentucky Power Co., the city of Pikeville and state and local leaders. It is expected to be completed in 2020.

"You cannot imagine how thrilling it is to play a part in helping revitalize a region and put coal miners back to work through retraining and durable jobs," said Enerblu Executive Chairman Michael Weber. The company plans to employ up to 875 workers at the Pikeville facility and create 110 jobs at its Lexington headquarters, which is expected to open in early 2018.