Olympic Steel Inc., a manufacturer of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel and aluminum products, will invest $11 million to expand its steel processing facility in the Franklin County borough of Chambersburg, Pennsylvania, creating at least 90 new manufacturing jobs.
The firm's 26-acre Chambersburg facility in the south-central part of the state, on Nitterhouse Drive, consist of two cutting-edge plate processing operations, with direct access to two rail lines and three interstate highways I-81, 76 and 70.
"This was a competitive expansion project that could have located in another state if not for our pro-business climate and economic development efforts," Gov. Tom Corbett said. "As a result of these efforts, Olympic Steel will make significant capital investments in the region and create 90 new Pennsylvania manufacturing jobs."
Olympic Steel considered expanding operations at its similar U.S. steel processing facilities, including two in Ohio. The company ultimately selected its Chambersburg plant to better serve the company's East Coast customers, the Governor's Office said.
As an incentive the company received a $400,500 grant from the Department of Community and Economic Development, including an $180,000 PA First grant, $40,500 in job training assistance and $180,000 in Job Creation Tax Credits.
"We wish to thank the Commonwealth of Pennsylvania, Governor Corbett and the Franklin County Economic Development team for their assistance," said Michael Siegal, chairman and CEO of Olympic Steel. "Together with the commonwealth, Olympic Steel is dedicated to advancing high-quality manufacturing jobs in America that support good wages and provides valuable benefits, improving the opportunities of citizens and employees."
"Since locating in Chambersburg in 1999, Olympic Steel has provided customer focused, state-of-the-art machining, welding, plate processing, warehousing, and distribution services to an ever expanding list of local original equipment manufacturers," said Franklin County Area Development Corporation President Michael Ross. "The newly announced expansion reaffirms the company's commitment to the pro-business climate that permeates Chambersburg, Franklin County, and the state."