Lawmakers Consider Industry Tax Credit for Steel Maker | News, Sports, Jobs

CHARLESTON – Members of the West Virginia Senate and House of Delegates met in special session today to consider a heavy industry tax credit for a steelmaker who could set up a factory in Weirton .

Governor Jim Justice issued a proclamation on Saturday night calling the Legislative Assembly into special session on Monday morning. The proclamation includes six bills, including tax incentives based on certain investments and employment commitments targeting new and existing heavy industries that require substantial investments in capital and labor.

Lawmakers are dancing around the names of the companies for which the tax credit is intended due to the fact that the deal is not final and the governor plans to announce the plans during his state-of-the-art address. Status Wednesday night in the 2022 regular session. Several sources who declined to be named said one of the companies wanted with the credit is NUCOR, a North Carolina-based steel maker.

Sources said NUCOR is interested in building two facilities in Mason and Weirton County – an investment of $ 2.8 billion. The projects would create approximately 800 full-time jobs and approximately 1,000 construction jobs over a two-year period.

Last September, NUCOR announced plans to build a 3 million ton plate rolling plant and was looking for locations in Ohio, Pennsylvania and West Virginia. The plant would serve the East Coast and Midwest markets.

“This new sheet plant complements Nucor’s existing operations, allowing us to serve customers in the region more effectively and develop our core business, while creating substantial value for our shareholders. said Leon Topalian, President and CEO of Nucor Corporation. “This plant will allow us to competitively meet the growing need of many customers, particularly in the automotive market, for high-quality steel with a low carbon footprint.

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