COLUMBIA CITY, Ind. (WANE) Steel Dynamics, Inc. plans to add new rail production capabilities at the Structural Steel and Rail Division that will create approximately 40 new jobs by 2016.
The company’s plans include installing a state-of-the-art heat-treating system that will be capable of producing up to 350,000 tons of carbon steel rails. The project will involve nearly $27 million in investments and follows nearly $20 million in previous investments in rail processing capabilities in recent years.
“On behalf of the Commissioners and County Council, we commend SDI for the company’s ongoing commitment to growth initiatives like this one,” said Whitley County Board of Commissioners chairman Don Amber. “Our local leaders will continue to work proactively to encourage the investment of companies like SDI in our community.”
The Indiana Economic Development Corporation offered SDI up to $500,000 in conditional tax credits based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Whitley County today approved additional real and personal property tax abatement at the request of the Whitley County Economic Development Corporation.