Steel Company to Open First Indiana Facility

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Michigan-based Mill Steel Co. is planning to launch a Jeffersonville operation and create more than 40 jobs by 2017. The company intends to pump over $16 million into expanding and equipping a facility at the Port of Indiana Maritime Center. April 28, 2014

News Release

JEFFERSONVILLE, Ind. - Mill Steel Co., a flat rolled steel service center, announced plans today to locate its first Indiana facility here, creating up to 43 new jobs by 2017.

The Grand Rapids, Mich.-based company will invest $16.1 million to purchase and equip a 105,000 square-foot facility in Jeffersonville at Indiana's Port of Indiana Maritime Center, making renovations to more than double its size to 225,000 square feet. The facility, which will be operational in June, will house two slitters in addition to a cut-to-length line.

"Mill Steel and other companies gain an advantage by locating at one of Indiana's three ports," said Victor Smith, Indiana Secretary of Commerce. "The Ports of Indiana helps businesses boost their logistics skills through direct rail-to-barge capabilities, strategically located at the crossroads of America. Companies can transport goods to their clients more efficiently here, making Indiana a state that works."

Mill Steel, which currently employs approximately 200 associates, plans to begin hiring this month. Interested applicants may apply online at www.millsteel.com.

"We are very excited by the opportunity to locate to Jeffersonville, and feel that Indiana's central location serves as an outstanding complement to our existing steel service center processing locations of Grand Rapids, Mich., Melvindale (Detroit), Mich. and Birmingham, Ala.," said David Samrick, chief executive officer of Mill Steel. “Indiana’s right-to-work law, simplified regulatory environment and low-tax rates also make it very attractive for the continued growth of our business. We felt it was absolutely critical to position ourselves at a location that will enable us to continue our delivery of outstanding just in time services to our growing automotive, construction, appliance and general manufacturing customer base."

Founded in 1959, Mill Steel is a family-owned business, now in its second generation. The company processes and distributes flat rolled carbon steel, serving the automotive, construction, appliance and general manufacturing industries. An ISO/TS 16949 certified company, the company plans to operate a testing lab in Jeffersonville accredited by the American Association for Laboratory Accreditation.

The Indiana Economic Development Corporation offered Steel 1195, LLC up to $300,000 in conditional tax credits and up to $100,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Jeffersonville will consider additional incentives at the request of One Southern Indiana.

"This latest announcement is a testament to the many advantages the city of Jeffersonville as well as the Port of Indiana-Jeffersonville offer a company’s bottom line," said Jeffersonville Mayor Mike Moore. "We are thrilled Mill Steel chose to leverage Jeffersonville's locale to serve its growing market and to establish their future in southern Indiana."

Indiana's three ports are foreign trade zones, helping companies ship about 70 million tons and $1.89 billion in cargo through the state by water each year. Directly linked to the Great Lakes and the St. Lawrence Seaway through Lake Michigan and the Inland Waterway System through the Ohio River, more than half of Indiana’s border is water. The Port of Indiana-Jeffersonville is the fastest growing port on the Inland Waterway System.

About Mill Steel

Founded in 1959, Mill Steel is one of North America's premier flat-rolled steel suppliers. Serving some of the world’s most demanding industries; the business has grown over the past 50 years. Mill Steel continues to grow by sticking to its founding principles: Reliability. Accountability. And doing what they say they will, and then some.

For more information on Mill Steel Co. visit www.millsteel.com.

About IEDC

Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.

Source: The Indiana Economic Development Corp.