Ferrous CAL Co To Locate $50.2 Million Steel Coil Manufacturing Plant In Gibraltar, Michigan
06/10/2015
As an incentive, the Michigan Economic Development Corporation today announced its Strategic Fund awarded the firm $6 million as part of a Michigan Business Development Program assistance grant. In addition, MSF and Wayne County Brownfield Redevelopment Authority also approved an Act 381 Work Plan for local and school tax capture estimated to be worth $4,511,454. Incentive assistance will allow the company to alleviate brownfield conditions on the property and complete the project including demolition, lead and asbestos survey and abatement, site preparation and infrastructure improvements. The city of Gibraltar has offered support to the project through the approval the brownfield work plan.
“The redevelopment of this brownfield site into a new cutting edge manufacturing facility will revitalize the community and bring new jobs to Detroit-area residents. It is thanks to many public and private partners that this project is taking place, and we are pleased to support that collaboration,” said MEDC CEO Steve Arwood. “Ferrous CAL’s decision to invest in Michigan underscores an economic climate that is more business-friendly than ever and a manufacturing talent pool that can compete with any place in the world.”
“We look forward to the startup of our state-of-the-art annealing operation in Gibraltar in late 2016. This process line is the first of its kind in North America and produces ultra-high strength steels which are the steels that the new lightweight vehicles made in Michigan are demanding for future vehicle production,” said Ferragon Corporation President/Owner Ed Gonzalez.
“Our decision to make this investment at the former McClouth Steel site could not have been made without the support of the state and local economic development community. We thank all the individuals and agencies involved for their efforts in bringing about this unique public-private partnership to rejuvenate this long-neglected site,” he added.
“The City of Gibraltar welcomes Ferragon Corporation as the new owner of the largely vacant former steel plant located on W. Jefferson Ave. in the City of Gibraltar. The recent purchase of this property by Ferragon Corporation provides a great opportunity for a partnership with the State of Michigan and the City of Gibraltar for a successful Brownfield Redevelopment project that will protect the environment, provide additional jobs and avoid potential blight,” said city of Gibraltar Mayor James F. Gorris. “On behalf of the City of Gibraltar, I look forward to a very successful relationship with the Ferragon Corporation from now and well into the future.”
Project Announcements
ValorFlex Packaging Plans Bowling Green, Kentucky, Production Operations
06/30/2025
Neuro.io Plans Terrebonne Parish, Louisiana, Operations
06/30/2025
Germany-Based MTU Maintenance Expands Fort Worth, Texas, MRO Operations
06/30/2025
Cascade Die Casting Group Expands High Point, North Carolina, Manufacturing Operations
06/30/2025
BuildOps Plans Raleigh, North Carolina, Operations
06/30/2025
Point Blank Enterprises Plans Wakulla County, Florida, Operations
06/30/2025
Most Read
-
20th Annual Area Development Gold and Silver Shovel Awards
Q2 2025
-
First Person: Joe Capes, CEO, LiquidStack
Q2 2025
-
The Legal Limits of DEI in Incentives Agreements, Hiring, and Contracting
Q2 2025
-
From Silicon to Server: Mapping the Data Center Supply Chain
Q2 2025
-
39th Annual Corporate & 21st Annual Consultants Surveys: What Business Leaders and Consultants Are Saying About Site Selection
Q1 2025
-
Rethinking Life Sciences Site Selection in a Resilient and Dynamic Market
Q2 2025
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024