Nucor Corp. is expanding its operations with a new, $350 million “micro-mill” in Lexington, North Carolina. According to a release, Nucor expects the mill to create about 200 jobs and produce 430,000 tons of steel once it becomes operational in about two years.
Nucor Steel Lexington, once finished, will join the ranks of Nucor’s 15 existing bar mills across the U.S., which have a combined production capacity of about 9,560,000 annual tons. It will be Nucor’s third micro mill specifically for the production of rebar, which is commonly used in road and building construction.
Leon Topalian, CEO of Nucor, noted in a statement that the new rebar mill is located in Nucor’s home state as well as an expanding market for steel on the Eastern coast.
“The corridor between Washington, D.C., and Atlanta is one of the fastest-growing regions in our nation, and new federal spending for infrastructure will further increase demand for rebar in the region,” he said.
Topalion also touted the plant’s environmental credentials, saying Nucor Steel Lexington will make its rebar with about 97% recycled content.
Governor Cooper of North Carolina hailed the new project for building on the state’s existing industry. “Manufacturing is the heartbeat of North Carolina’s economy, thanks to our skilled workers and the workforce training systems that support them,” Cooper said in a statement. A release from Cooper’s office noted that Nucor Steel Lexington has been authorized to receive $3,335,400 in tax reimbursement over 12 years if the project meets investment and job creation targets.
