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April 28, 2014

Two companies creating new jobs in Jeffersonville

Steel company to locate at Port of Indiana-Jeffersonville

JEFFERSONVILLE — The redevelopment commission approved tax abatements for two companies to locate or expand in Jeffersonville, bringing nearly 100 new jobs to the city.

Mill Steel Co., a Michigan-based steel service center, is purchasing and refurbishing the 105,000-square-foot former Nova Tube facility at the Port of Indiana-Jeffersonville for $16.1 million. The company also will begin immediate expansion of the existing building by 120,000 square feet, making the new 225,000 square foot facility Mill Steel’s largest location.

Matt Hall, executive vice president for One Southern Indiana, called the deal with Mill Steel a “two for.”

“So this is taking a nonperforming asset in terms of job creation and turning it into a job creator and to allow it to reach its tax potential at the Port of Indiana-Jeffersonville,” he said of the facility.

Mill Steel, which has two facilities in Michigan and one in Birmingham, Alabama, primarily serves the automotive business sector by cutting steel coils into smaller sections, said Eric Lambert of Mill Steel. The steel company also has a distribution center in Louisville.

When the Jeffersonville facility is becomes operational in June, it will have two slitting lines and a cut-to-length line for their services.

“It’s very exciting for our team to be expanding in your marketplace,” said Lambert, senior vice president, chief operating officer and CFO of the company.

Lambert said by 2015, Mill Steel will hire upward of 50 people, with the average pay ranging from $19 an hour for production staff members to $27 for management positions.

The company has 200 employees across its three manufacturing facilities.

The redevelopment commission unanimously approved the tax abatement, or tax break, of 10 years for real property and five years for personal property.

Mill Steel is also receiving incentives from the Indiana Economic Development Corp. of up to $300,000 in conditional tax credits and $100,000 in training grants. The company won’t be eligible for these incentives until they have hired employees, which they expect to do this month.

“Mill Steel and other companies gain an advantage by locating at one of Indiana’s three ports,” Victor Smith, Indiana Secretary of Commerce, said in a press release. “The Ports of Indiana helps businesses boost their logistics skills through direct rail-to-barge capabilities, strategically located at the crossroads of America. Companies can transport goods to their clients more efficiently here, making Indiana a state that works.”

R. Monty Snelling, redevelopment commission president, said the nature of Mill Steel’s business will fit in well with Jeffersonville’s automotive manufacturing sector.

“If you’ve got a plant with this types of capabilities right here in Jeffersonville, they think in the future the same as we do. Are they looking at an automotive industry possibly coming into River Ridge [Commerce Center]?” Snelling said of the mega site at River Ridge suited for an automotive company.

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