Lawmakers consider industry tax credit for steel manufacturer
NUCOR could build in Weirton and Mason County
CHARLESTON – Members of the West Virginia Senate and House of Delegates convened in special session today to consider a heavy industry tax credit for a steel manufacturer who could locate a mill in Weirton.
Gov. Jim Justice issued a proclamation Saturday night calling the Legislature into special session Monday morning. The proclamation includes six bills, including tax incentives based on certain investments and employment commitments aimed at new and current heavy industries that require substantial investments of capital and labor.
Lawmakers are dancing around the name of companies the tax credit is aimed at due to the deal not being final and the governor planning to announce the projects during his State of the State address Wednesday night. Multiple sources who declined to be named have said one of the companies being courted with the credit is North Carolina-based NUCOR, a steel manufacturer.
Sources said NUCOR is interested in building two facilities in Mason County and Weirton – a $2.8 billion investment. The projects would result in approximately 800 full-time jobs and approximately 1,000 construction jobs over a two-year period.
Last September, NUCOR announced their intentions to build a 3-million-ton sheet mill plant and was scouting out locations in Ohio, Pennsylvania, and West Virginia. The plant would serve markets in the East Coast and Midwest.
“This greenfield sheet mill complements Nucor’s existing operations, allowing us to more effectively service customers in the region, and grow our core business, while creating substantial value for our shareholders,” said Leon Topalian, president and CEO of Nucor Corp. “This mill will allow us to competitively meet the growing need that many of our customers, particularly in the automotive market, have for high-quality steel with a lower carbon footprint.”