Gov. Holcomb at Thursday’s press conference
US Steel launches a $750 million dollar investment at Gary Works
Contributed By:The 411 News
Mayor Karen Freeman-Wilson: It means stability at the flagship
US Steel, the company that put Gary, Indiana on the map, announced Thursday its plans for a $750 million upgrade to Gary Works, its oldest and largest plant in the country.
Gary Mayor Karen Freeman-Wilson and Indiana Governor Eric Holcomb stood side-by-side with US Steel’s President and CEO David Burritt during the announcement at a press conference at the steel company’s Gary headquarters. Burritt said, “Not only will this significant investment at Gary Works improve the facility’s environmental performance, bolster the company’s competiveness, but the investment will benefit Gary and the local community for years to come.”
The upgrade is planned over 5 years and is part of the steelmaker’s $2 billion asset revitalization program.
Mayor Karen Freeman-Wilson stated, “There is no secret that US Steel’s flagship is located in Gary. We are pleased about this investment in the plant and even more encouraged by a deepened partnership with the company of the city’s origin.
“Today’s news is a major step forward that will have a lasting positive impact on the city of Gary, the northwest region and the state of Indiana for years to come,” Gov. Holcomb said. “US Steel has a rich history in Indiana, producing steel for customers around the world while providing quality career opportunities for Hoosiers and supporting their families here in northwest Indiana. We look forward to U. S. Steel’s continued success and growth right here in Gary, Indiana.”
Indiana has offered US Steel a $10 million tax credit over a 10-year period based on the company’s commitment to retain its current Hoosier workforce of 3,875 jobs. The company is also eligible for $2 million in state training grants for Gary Works employees.
Mayor Freeman-Wilson announced the City of Gary and US Steel are working on “tax increment financing” to shelter $35 million of the steelmaker’s taxes over the next 25 years that will directly go to the civil city, the Gary school district, and Gary public library system.
The mayor said, “While I am excited about this announcement, most important is – what does this mean for the citizens? It means stability at the flagship. It means stability for the workforce. It also means assistance in a tax base in a community that has struggled. But the thing that is most heartening for me is... it also means a renewed partnership with our founding billion dollar corporation.”
For East Chicago’s Senator Lonnie M. Randolph, good news from northwest Indiana dominates. “This news from U.S. Steel, on top of the data center groundbreaking in Hammond earlier this week, will be the shot in the arm to creating jobs, and strengthening the local, regional, and state economies.”
Story Posted:08/17/2018
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