The Vigo County Council has approved a 10-year tax abatement for Fort Wayne-based Steel Dynamics Inc. (Nasdaq: STLD), which helps clear the way for the steel maker to invest nearly a quarter-billion dollars in its Terre Haute facility and create more than 80 jobs. Our partners at WTHI-TV report the council voted unanimously in favor of the tax break.
SDI says it requested the incentive after it announced plans to invest $231 million and add nearly 400,000-square-feet of space to its plant in the Vigo County Industrial Park.
The council says they are excited to see this positive investment in Vigo County. “Obviously, when local people get to work [it is a good thing],” said Aaron Loudermilk, president of the Vigo County Council. “They live here. They spend the money here and the money goes back into the community. I always feel better about a project when the work is staying here locally.
WTHI says the company hopes to break ground as soon as possible. The goal is to finish construction by the end of 2022 or the beginning of 2023.