Alliance Steel is to invest US$20m in its Gary, Indiana operations to support growth, creating up to 130 new jobs by 2023.
“Today’s news is a step forward for the city of Gary and the North West Indiana region as we welcome Alliance Steel to the Hoosier State,” said Indiana Governor, Eric Holcomb.
“Our fiscally predictable, pro-growth business climate paired with communities ripe for growth provides an advantage for companies like Alliance Steel to grow their operations with the support of a skilled workforce.”
The company, which started in Bedford Park, Illinois, and currently employs around 100 staff, will invest US$19.7m to establish operations in Gary, purchasing and equipping a 250,000-square-foot facility.
The new facility will allow Alliance Steel to expand its flat-rolled steel supply and coil processing and to grow its customer demand within the automotive, construction, agriculture, transportation, energy, material handling and appliance industries. The company plans to start renovations in early 2019.
Alliance Steel expects to be operational in North West Indiana by January 2020. With the expansion, the company plans to increase workforce training on new equipment and add drivers to handle the extra volume.
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“Northwest Indiana and Gary are making all the right moves to recreate a very promising industrial area, and Alliance Steel hopes to be one of the cornerstones that provides a track for this new cycle,” said Alliance Steel president and CEO, Andy Gross.
Alliance Steel has manufactured flat-rolled steel supply and coil processing for nearly 20 years.
The Indiana Economic Development Corporation (IEDC) offered Alliance Steel up to US$1.85m in conditional tax credits and up to US$150,000 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 IEDC also offered up to US$900,000 in conditional tax credits from the Industrial Recovery Tax Credit (DINO) programme, which provides an incentive to invest in former industrial sites.
The city of Gary offered additional undisclosed incentives.