SEDALIA, Mo. – A new rebar micro mill is headed to Missouri, and it’s being backed by the largest steel producer in the nation.
The company, Nucor, announced that it will be investing at least $250 million to build the mill in Sedalia, creating 255 full-time jobs paying an average annual salary of approximately $65,000. In addition, the project will create 450 temporary construction jobs. The Sedalia site will be the company’s 14th bar mill in the United States.
“This rebar micro-mill project is consistent with our long-term strategy for profitable growth and builds on our position as the low-cost producer,” said John Ferriola, Chairman, CEO & President of Nucor. “Strategically positioning this micro-mill in Sedalia will give us a sustained cost advantage over other domestic steel producers supplying rebar from outside the region.”
Products produced by Nucor include: carbon and alloy steel – in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating; and wire and wire mesh.
The company’s energy-efficient electric arc furnaces turn more than 17 million tons of scrap into new steel every year – making Nucor the largest recycler in all of North America.
The project was made possible following the passage of the steel mill bill during the first legislative session this year, allowing utility companies to offer special rates to large energy users.
“It truly was a statewide effort that won these jobs for Missouri,” Acting Director of Missouri’s Department of Economic Development Rob Dixon said. “We had the Directors of three state departments working on-one-one with Nucor, and we worked with the legislature to get the tools we needed to make Missouri competitive.
Kansas City Power & Light will be the ones providing service to Nucor’s latest facility.
“We are excited about this announcement and cannot wait to welcome Nucor to our service region,” said Chuck Caisley, KCP&L Vice President of Marketing and Public Affairs. “What makes this so exciting is the new jobs and opportunities it creates for our customers, our schools and our future workforce. These opportunities will create stronger communities that we cannot succeed without.”
“This was a highly competitive process to secure Nucor’s investment,” Steve Johnson, CEO of Missouri Partnership said. “We were competing with seven different states and our statewide team was able to show why Missouri is the place for them to invest and grow their company. It was a privilege to be part of the statewide team whose work will positively impact so many.”
Nucor is 169th on the 2017 Fortune 500 list, reporting $16.2 billion in revenues in their last fiscal year.
“We are proud to welcome Nucor to our family in Sedalia,” Rusty Kahrs, President of Economic Development Sedalia-Pettis County’s Board of Directors said. “This new facility will be transformative for our community, region and state, with millions of dollars in capital investment and the hundreds of jobs it will support both directly and indirectly in the area. With a rich culture that values hard work and putting employees first, Nucor’s new facility will be a great fit for our community.”
The company says that rebar supply to the Kansas City, upper Midwestern and Plains markets currently travel long distances, giving the micro mill in Sedalia a logistical advantage.
The mill is expected to start-up in 2019 pending the final approval and award of state and local incentives as well as required permits and regulatory approvals.