Steel Dynamics requests 10-year tax break for its expansion project
HIGH EARTH, Ind. (WTWO / WAWV) – Steel Dynamics has requested a 10-year tax break from Vigo Co. County Council to help finance its $ 231 million expansion project at its Heartland plant in the industrial park of the County of Vigo.
It has been part of the industrial park since the late 1990s and currently employs over 200 people with an annual salary of at least $ 95,000.
Roberto Bohrer, COO of Steel Dynamics Heartland, LLC, said the expansion will benefit the community.
âWe’re going to have 84 employeesâ¦ with well-paying jobs with their families. It is a big improvement. But we will also continue to use the businesses and services of Vigo County. We currently have over 50 companies that we use in the factory, âhe said.
The expansion will create 84 new jobs at the site, paying at least $ 80,000 per year and creating 500 additional construction jobs.
Steve Witt, president of the Terre Haute Economic Development Corporation, said it will boost the region’s economy.
âIt’s a rising tide that is raising the situation for all boats. We therefore believe that this will lead to an even greater investment and the creation of additional jobs thanks to this project. This is an opportunity that very rarely presents itself, âWitt began. âI have been in this business for over 30 years. So I can say that these opportunities don’t present themselves very often at all.
The expansion project is expected to be completed by December 2022, if the tax relief is approved. The county council will hold a preliminary vote on August 10, with the intention of making a final decision shortly thereafter.
âI really hope that the Vigo County Council can benefit from it, not just the taxes. This is going to be good for the whole community, as it has been for the past 20 years with our current plan, âBohrer concluded.