Charlotte-based Nucor Steel recently announced plans to build a new $20 million rebar factory in Davidson County.
This new facility will be adjacent to Nucor’s steel rebar micro mill in Lexington, about 30 miles northeast of Charlotte.
The average annual wage for jobs at the new plant will be $65,000, surpassing the county’s average wage of $51,201. The facility’s new jobs could generate an annual payroll impact of more than $1.6 million for the region.
“It’s great when a home grown company chooses to expand in North Carolina, especially when it’s the largest steelmaker in America,” said Governor Cooper in a press release. “Nucor’s decision illustrates its confidence in our state’s workforce, transportation infrastructure, and supportive business environment that makes North Carolina the best state to do business.”
A $50,000 performance-based grant from the One North Carolina Fund will support Nucor’s new rebar factory. The OneNC Fund aids local governments in attracting economic investment and creating jobs. Companies receive no upfront money and must meet job creation and capital investment targets to qualify for payment. Local governments must match the grant for it to be awarded.
