STEUBENVILLE — A $145 million bond series for JSW Steel USA Ohio Inc. hit the market around noon Wednesday, poising JSW to be a long-term stakeholder in the county, said the director of the Jefferson County Port Authority.

Robert Naylor informed the port authority’s board of directors of the issuance’s closing after being priced and rated. Established with a five percent coupon rate, the bond series will help finance improvements to a slab casting machine at the plant and installation of a vacuum tank de-gasser.

“It’s a good day, not only for JSW Steel. It’s a good day for our region, our county and the port authority,” Naylor said.

This is JSW’s second bond series facilitated with help from the port authority, with the first closing in 2021 and helping to upgrade the electric arc furnace at JSW’s Mingo Junction location. Naylor said that series has led to further and ongoing collaborations between the port authority, JSW and other local agencies to bring about “synergistic opportunities” in the county.

Naylor commended JSW and the team responsible for bringing about the series. He said JSW Ohio’s expansions are positive, representing the reality that most economic growth must come organically from within the county itself. JSW has committed to retaining 400 jobs and creating 26 new jobs, Naylor added.

Separately, Naylor updated the board on the application by Richmond Mills Inc. for the Ohio Environmental Protection Agency’s Market Development Grant Application 2024, for which the port authority is the government sponsor.

RMI is a subsidiary of Brixx Technology LLC, a Texas limited liability company licensed to do business in Ohio. RMI will receive a license for the technology to create bricks, road aggregate or landscaping material out of fly ash, a powdery residue created through the combustion of fine coal.

The EPA’s annual grant program for recycling and prevention initiatives will offer a $200,000 reimbursement to RMI for the purchase of $400,000 in equipment to recycle the fly ash.

Naylor said RMI’s grant application has been submitted and confirmed, and all required financial statements have been turned in. During the port authority’s meeting last month, Naylor said RMI will create nine jobs and offer a clean-up solution for fly ash resulting from the former W.H. Sammis Power Plant.

Also, Naylor said subrecipient agreements — which allow grant funds to be transferred from the lead applicant to a designated recipient — have been finalized for the port authority’s three projects in the Ohio Mid-Eastern Governments Association’s application for the Ohio Department of Development’s $450 million Appalachian Community Grant Program.

OMEGA, the local development district overseeing Jefferson and nine other counties, put forward three Jefferson County projects in its application — from Historic Fort Steuben, the Village of Adena and Urban Mission Ministries. The Jefferson County projects were awarded a Technical Assistance grant for planning in March.

In other business:

≤ Naylor said that he communicated with OMEGA, which filed a capital budget request on Dec. 18 with the hope of reducing the financial toll of much-needed repairs at the Belleview Park pool. The initiative has received “wide community support,” including from the Brooke Hancock Jefferson Metropolitan Planning Commission, Steubenville City Schools, local realtors and the City of Steubenville.

≤ A video call with Senator Joe Manchin of West Virginia, organized by the BHJ’s Executive Director Michael Paprocki, was successful in addressing the Market Street Bridge replacement initiative and its regional benefits, Naylor said — a sentiment shared by Commissioner Eric Timmons, who was present for the video call and the port authority’s board meeting.

≤ Naylor said a request for proposal has been issued for the construction of a speculative building at a 13.36-acre site in the Jefferson County Industrial Park, and the port authority is awaiting responses.

≤ The board approved adopting Jefferson County’s legal holiday schedule, with board member David D’Anniballe being the only dissenter.