Nucor Building One of Louisiana's Biggest Industrial Projects in State's History
09/16/2010
"This facility will create good jobs for American workers and, at the same time, it will help Nucor achieve our long-term goal of increasing control over our raw materials supply," said Nucor President and CEO Daniel R. DiMicco.
The project is divided into five phases: a direct reduced iron (DRI) facility, a second DRI facility, a pellet plant, a blast furnace and coke ovens, and a steel mill.
To help attract Nucor to the state, Louisiana Economic Development (LED) provided the company with an incentives package including $160 million in performance-based financial assistance. Nucor is expected to apply for a Gulf Opportunity Zone bond allocation of $600 million, and consideration from the state's Quality Jobs program.
Nucor, which has headquarters in Charlotte, North Carolina, is the largest producer of steel in the United States and the world's top steel recycler.
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