Last Updated on June 14, 2023 by Indiana Economic Development Corporation.
CRAWFORDSVILLE, Ind. – Nucor Corporation (NYSE: NUE), the largest U.S.-based steel producer, today announced that the company’s Towers & Structures business unit will build a new state-of-the-art utility structures manufacturing facility in Crawfordsville, investing $115 million and creating up to 200 new jobs by the end of 2027.
“Today is truly yet another exciting day for Nucor, Indiana and our state’s growing energy ecosystem,” said Governor Eric J. Holcomb. “Nucor has been a great company partner to our state for decades, and this new Towers & Structures operation is a true testament to the company’s commitment to the Montgomery County region and to our Hoosier pro-growth business climate and skilled workforce.”
The new facility will be located adjacent to the Nucor Steel Indiana sheet steel mill, which has been operating in Montgomery County since 1989. Nucor’s Towers & Structures facility will be highly automated, utilizing efficient straight-line production, and will also include advanced hot-dip galvanizing operations. The new facility will be well equipped to provide a wide array of engineered utility structures necessary to support our nation’s electrification initiatives, such as grid hardening, renewable energy projects and building a nationwide network of EV charging stations.
“Nucor’s investment in Crawfordsville furthers Indiana’s momentum in energy storage and production,” said Indiana Secretary of Commerce Brad Chambers. “Nucor’s new Towers & Structures production facility will not only create new community investment and quality career opportunities, it will also power the future of the energy sector across the U.S., supporting electrification and continued clean energy efforts.”
Construction is expected to begin late 2023 to early 2024 with production in Crawfordsville expected to start by mid-2025.
“Nucor has been doing business in Indiana since 1972, and today we have more than 2,500 teammates working at 20 different locations across the state,” said Laurent De May, General Manager of Nucor Towers & Structures. “We are excited to build on that history with our new Towers & Structures production facility. We appreciate the support we have received from state and local officials, including Governor Eric Holcomb, Secretary of Commerce, Brad Chambers, the Indiana Economic Development Corporation, Montgomery County and the City of Crawfordsville.”
The new Montgomery County facility will accelerate Nucor’s growth of its Towers & Structures business unit, which it formed in 2022 after acquiring Summit Utility Structures LLC, a producer of steel utility structures. In December, the company announced plans to establish a nationwide footprint by building two new utility structure manufacturing facilities for a combined $270 million dollars. In February, the company announced plans for its first facility in Decatur, Alabama.
“We are excited that Nucor has chosen to locate their new towers and structures manufacturing facility in Montgomery County,” said Montgomery County Commissioner John Frey. “Our county team has worked hard to create the environment to attract new jobs and investment in the county, and we are starting to see the results of these efforts.”
Today’s news comes on the heels of Nucor’s recent investment in its Indiana sheet steel mill, where it is investing $290 million to expand and modernize its operations. The expansion, which kicked off with a groundbreaking in April, will enable the plant to increase the capacity of its galvanizing and pre-paint lines, further expanding Nucor’s existing operations across North America.
Launched in 1989, Nucor Steel Indiana was Nucor’s first sheet steel mill. Nucor employs more than 31,000 teammates in its locations throughout North America, including more than 2,500 in Indiana.
Pending approval of the Indiana Economic Development Corporation (IEDC) board of directors, the IEDC will commit an investment in Nucor Towers & Structures of up to $3.25 million in the form of incentive-based tax credits and up to $3.75 million in conditional structured performance payments based on the company’s job creation and investment plans. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired and investments are made.
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel — in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; wire and wire mesh; and utility structures. Nucor, through The David J. Joseph Company and its affiliates, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America’s largest recycler.
The Indiana Economic Development Corporation (IEDC) is charged with growing the State economy, driving economic development, helping businesses launch, grow and locate in the state. Led by Secretary of Commerce Brad Chambers, @SecChambersIN, and governed by a 15-member board chaired by Governor Eric J. Holcomb, @GovHolcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit iedc.in.gov
SOURCE: News release from Indiana Economic Development Corporation.