Sept. 27, 2012
/PRNewswire-USNewswire/ -- Governor
announced today that Olympic Steel Inc. will expand its steel processing facility in
, creating at least 90 new manufacturing jobs.
"This was a competitive expansion project that could have located in another state if not for our pro-business climate and economic development efforts," said Corbett. "As a result of these efforts, Olympic Steel will make significant capital investments in the region and create 90 new
Olympic Steel considered expanding operations at its similar U.S. steel processing facilities, including two in
. The company ultimately selected its
plant to better serve the company's East Coast customers. Olympic Steel will create 90 new jobs within three years, and invest
to purchase new equipment and provide training to its new employees.
The company received a
funding offer from the Department of Community and Economic Development, including an
PA First grant,
in job training assistance and
in Job Creation Tax Credits.
"We wish to thank the Commonwealth of
, Governor Corbett and the Franklin County Economic Development team for their assistance," said
, chairman and CEO of Olympic Steel. "Together with the commonwealth, Olympic Steel is dedicated to advancing high-quality manufacturing jobs in America that support good wages and provides valuable benefits, improving the opportunities of citizens and employees."
The expansion was coordinated by the Governor's Action Team or GAT, a group of economic development professionals that work directly with businesses that are considering locating or expanding in
. GAT worked with the Franklin County Area Development Corporation (FCADC) to support Olympic Steel's expansion.
"Since locating in
in 1999, Olympic Steel has provided customer focused, state-of-the-art machining, welding, plate processing, warehousing, and distribution services to an ever expanding list of local original equipment manufacturers including Manitowoc Crane Group, JLG Industries, and Volvo Construction Equipment," said FCADC President
. "The newly announced expansion reaffirms the company's commitment to the pro-business climate that permeates
, and the state."
Founded in 1954, Olympic Steel (Nasdaq: ZEUS), is a leading U.S. metals service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel and aluminum products. The company's CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricates pressure parts for the electric utility industry.