Nucor steel will invest $350 million, create 180 jobs with new Lexington mill
Published 1:37 pm Thursday, April 7, 2022
SALISBURY — Nucor Corporation, the largest producer of steel in the country with headquarters in Charlotte, will invest $350 million in a new facility in Lexington that is expected to create 180 new jobs in the region.
“Manufacturing is the heartbeat of North Carolina’s economy, thanks to our skilled workers and the workforce training systems that support them,” Gov. Roy Cooper said in a news release announcing the project. “Nucor already calls North Carolina home and their decision to expand here is great for our domestic supply chain that supports our fast-growing economy.”
The”micro-mill” will primarily manufacture steel bar and rebar, which is used in the construction of buildings, roads and sidewalks. The new facility will produce 430,000 tons of rebar each year.
“We are very excited to grow our steel business here in our home state of North Carolina. The corridor between Washington, D.C. and Atlanta is one of the fastest growing regions in our nation, and new federal spending for infrastructure will further increase demand for rebar in the region,” Leon Topalian, president and Chief Executive Officer of Nucor, said in a news release. “Nucor Steel Lexington will produce steel with nearly 100% recycled content, which means our new, modern infrastructure will be made with the cleanest sustainable steel available anywhere in the world.”
Although wages will vary depending on job role, the average salary for all the new positions will be approximately $99,660, which is more than twice Davidson County’s average wage of $45,117. The community will see more than $15 million enter its economy from the project’s payroll impact every year as a result of the project.
North Carolina Commerce Secretary Machelle Baker Sanders announced the deal at Davidson-Davie Community College on Thursday afternoon after the state’s economic investment committee approved incentives for the project. The state will provide approximately $19.3 million in state incentives for the project if Nucor meets certain investment and job creation goals. Those incentives include a Job Development Investment Grant worth up to $3.3 million over 12 years. During that 12-year term, the state projects that Nucor’s new Lexington mill will grow the state’s economy by $1.2 billion.
Nucor currently employs 480 workers at a steel manufacturing facility in Hertford County, North Carolina, and 139 employees at its headquarters in Mecklenburg County.
Davidson County was selected for the facility over sites in Virginia and South Carolina.