U.S. Treasury Secretary Janet Yellen was in Kentucky today on hand to help cut the ribbon on a new $50 million manufacturing facility in Elizabeth Town.

This is Korean based advanced Nano Products First U.S. factory.

The company manufactures electric vehicle battery components.

It's expected to supply Ford Motor Company's blue Oval desk plants in Glendale, as well as other plants along the Interstate 65 and 75 corridors.

Yellen spoke at the event, calling the factory another example of how electric vehicle related investments are paying off.

We're starting to see the impacts from our policies and investments for middle class Americans in communities across the country.

Here in Elizabeth Town, an expansion will create almost 200 jobs, and they'll be good ones.

Expected to pay an average hourly wage of $40.

The fact that Fort Knox is nearby means there's already interest from veterans, among others, who have always had the opportunities they deserve.

Yellen also says clean energy investments have doubled to more than $4 billion a month, and states that have relied heavily on fossil fuels like Kentucky.

She says that's due to the Biden administration tax credits targeting those communities.