Nucor Corporation will invest $290 million to expand the product capabilities of its sheet mill in Crawfordsville, Indiana. The project is expected to create 80 jobs.
The company will add a construction grade continuous galvanizing line and prepaint line. The expansion is expected to take two years to complete pending permitting, regulatory approvals, the award of state and local incentives and other tax considerations.
"Investing in Nucor Steel Indiana will allow us to grow our profitability in the Midwest construction region and expand Nucor's prepaint footprint," said Rex Query, Executive Vice President of Sheet and Tubular Products for Nucor Corporation. "This investment is part of our strategy to grow our core steel businesses and expand our portfolio of value-added products."
The Indiana Economic Development Corporation (IEDC) is working with Nucor to finalize a committed investment in the form of incentive-based tax credits based on the company’s job creation and investment plans. Montgomery County is considering additional investments.
Nucor Steel Indiana was Nucor's first steel sheet mill, starting operations in 1989. The Crawfordsville mill is where the company pioneered electric arc furnace thin-slab casting. Since this breakthrough, Nucor has continued to invest in advanced sheet steel products and technologies. The company operates five strategically located sheet mills that utilize thin slab casters and recently announced adding a sixth sheet mill, a majority-owned joint venture in California. These mills produce flat-rolled steel for automotive, appliance, construction, pipe and tube and many other industrial and consumer applications.