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Area Development - Site Selection, Facility Planning and Workforce Development

Ratner Steel To Invest $14.25 Million On A Manufacturing Plant in Portage, Indiana

03/13/2012
Ratner Steel Supply Company, a manufacturer of steel sheets and plates, will invest $14.25 million to build and equip a 102,000-square-foot plant at the Port of Indiana Burns Harbor in Portage.

"While we easily could have opened a facility at any location, Indiana's business climate provided just the sort of location we were looking for," said Steve Gottlieb, general manager and chief financial officer of Ratner Steel. "This new facility allows our company unequivocal access to our customers while strategically placing ourselves in a position for future growth."

"Indiana's business-friendly climate continues to set us apart and gives companies like Ratner Steel a reason to establish roots here," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. The Indiana Economic Development Corporation offered Ratner Steel up to $210,000 in conditional tax credits based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Portage, a city in northwestern Indiana, also approved additional property tax abatement for the firm.

"Portage is the benefactor of the exceptional work of the IEDC, the Port of Indiana and the Portage Economic Development Corporation," said Portage Mayor James Snyder. "Like Ratner Steel, anyone looking to bring jobs to Portage can rest assured we have the best team and location to help them call Portage home. We are grateful Ratner Steel has chosen Portage as their expansion location and we believe they are just a start to a strong economic comeback."

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