Metals servicer Olympic Steel has chosen Mount Sterling, Kentucky, as the site of its new manufacturing plant. The company will create 20 jobs and invest $11.2 million in the project. The facility will complete plate burning, machining, forming, and shot blasting operations.
"This additional facility will allow us to better serve the growing demand for our products and services from customers in the area, and reinforces our strategy of being closer to where our customers assemble their products," said Michael D. Siegal, Olympic Steel chairman and CEO.
The Kentucky Economic Development Finance Authority (KEDFA) has pre-approved Olympic Steel for tax incentives up to $1.5 million through the Kentucky Business Investment program.
Olympic Steel will occupy a vacant 100,000-square-foot building and begin production in the first quarter of 2011.