Coronado Steel seeks to add building

V&M Star is expected to decide on a local expansion this month.

STAFF REPORT

YOUNGSTOWN — The Coronado Steel Co. wants to expand its plant by adding a new 10,500-square-foot building for more manufacturing space and material storage.

The Board of Control approved an Enterprise Zone Agreement with Coronado and MMTK Family LLC and Youngstown on Wednesday.

The agreement provides for a 10-year, 75 percent abatement of real property taxes for the expansion. The new structure would be built at Coronado’s current location, 2360 Funston Drive, and cost about $300,000.

Coronado produces a variety of alloy castings and employs about 45 people.

Another expansion that has been heavily talked about since November is the V&M Star project.

V&M Star operates a mill in Youngstown that produces pipe for oil and gas exploration, and the company said that it was considering a local site for a possible expansion.

The state has approved tax credits for the project, and Youngstown and Girard officials have agreed on a plan to share income taxes created by an expansion.

The V&M project could potentially provide hundreds of jobs to the area.

“We believe the company is still evaluating its options,” said David Bozanich, director of finance.

A decision by V&M should be made by the end of January, he said.

At Wednesday’s meeting, the board approved an engineering agreement between Youngstown and MS Consultants to perform a boundary survey for Brier Hill Slag and Norfolk Southern.

The city is trying to enter into an agreement with Norfolk to relocate to the V&M site, said Bozanich.

All project costs will be reimbursed by V&M, regardless of whether the company’s expansion project moves forward, he said.