First Step Toward New Business
The first step has been taken to bring a steel recycling firm to Western New York.
The New York Power Authority board of trustees today approved an allocation of low-cost hydropower for Steel Development Company.
The company is looking to create 200 permanent jobs in Western New York and invest $200 million in a new manufacturing facility. New York was competing with several other states and Mexico for Steel Development’s new facility.
Once the economic development package is finalized, Steel Development’s new plant will use state-of-the-art equipment to turn recycled steel into rebar.
In addition to the 200 permanent jobs, the Steel Development project is expected to create 600 to 1,000 construction jobs for the new facility, which is expected to be completed by the first half of 2011.
from the NY Governor's Web site
The New York Power Authority board of trustees today approved an allocation of low-cost hydropower for Steel Development Company.
The company is looking to create 200 permanent jobs in Western New York and invest $200 million in a new manufacturing facility. New York was competing with several other states and Mexico for Steel Development’s new facility.
Once the economic development package is finalized, Steel Development’s new plant will use state-of-the-art equipment to turn recycled steel into rebar.
In addition to the 200 permanent jobs, the Steel Development project is expected to create 600 to 1,000 construction jobs for the new facility, which is expected to be completed by the first half of 2011.
from the NY Governor's Web site
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