Thursday, March 7, 2024

Industrial Steel Processor to Locate Operations to Hickory with $30 Million Investment

Mar 7, 2024

Steel Warehouse Company, a leading steel service center, will create 58 new jobs in Catawba County, Governor Cooper announced today. The company will invest more than $30.5 million to locate a state-of-the-art facility in the City of Hickory.

“North Carolina’s reputation as the best state for business continues to attract industry leaders to operate in our state,” said Governor Cooper. “Our central East Coast location, affordability, and world-class workforce will greatly benefit Steel Warehouse in this next phase of growth in Hickory.”

Steel Warehouse Company, a family-owned steel solutions provider and service center, boasts a rich 75-year heritage in the steel industry. Possessing deep metallurgical and engineering expertise, the company is headquartered in Indiana and operates 15 locations across the United States, Mexico, and Brazil. Distributing over two million tons of coil, sheet, and plate annually in hot- and cold-rolled materials, Steel Warehouse caters to a diverse range of industries including aerospace, agriculture, automotive, construction, energy, and transportation. The company is renowned for its experience in managing inventory and providing just-in-time shipments, ensuring timely and efficient delivery to meet customer needs. The latest expansion in Hickory is set to be an innovative operation, featuring enhanced processing capabilities designed to bolster the region's industrial supply chain.

“We are excited to put down roots in North Carolina, providing cutting-edge capabilities to support our customers in the region,” said Dave Lerman, Chairman of the Board for Steel Warehouse. “We view this as an attractive place to invest for the long term.”

“To be an industry leader, growing companies need a strong foundation of skilled talent,” said N.C. Commerce Secretary Machelle Baker Sanders. “Our keen focus on workforce training, as outlined in our strategic economic development plan, will ensure companies like Steel Warehouse can recruit and retain great workers.”

Salaries will vary by position with an average annual wage of $62,000, exceeding the Catawba County average of $54,151. These new jobs could potentially create an annual payroll impact of more than $3.5 million for the region.

A performance-based grant of $120,000 from the One North Carolina Fund will help Steel Warehouse of North Carolina LLC establish its new operations. The One NC Fund provides financial assistance to local governments to help attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require matching participation from local governments and any award is contingent upon that condition being met.

“We are elated to welcome Steel Warehouse to Catawba County,” said N.C. Senator Dean Proctor. “Our manufacturing workforce is second-to-none for companies of this caliber and we stand ready to support them as they establish operations in Hickory.”

In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in this project include the North Carolina Department of Transportation, North Carolina Community College System, North Carolina Railroad Company, Norfolk Southern, Catawba County, Catawba County Economic Development Corporation, Duke Energy, and the City of Hickory.


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