YOUNGSTOWN — City council approved legislation today that Youngstown officials hope will convince a Vallourec Star subsidiary to invest $81.5 million to build a steel-pipe threading facility about a mile from the company’s $1.1 billion expansion mill.
The company, which negotiated with the city on this project for several months, is expected to make a final decision in the next 90 days, said city Finance Director David Bozanich.
The company wants to use the former Genmak Steel building and an additional 67,500 square feet nearby in the city’s Ohio Works Business Park for the VAM USA LLC threading plant.
The facility would employ 84 full-time workers by early next year, according to VAM’s 10-year, 75-percent real-property tax abatement application.
The company wanted the city to approve the abatement before making a commitment on the expansion, Bozanich said.
Also today, council approved legislation to spend about $60,000 to relocate 11,000 cubic yards of dirt located at the proposed VAM site.
For the complete story, read Thursday’s Vindicator and Vindy.com