Thursday, January 28, 2010
STAFF REPORT
A decision on whether V&M Star Steel will expand in Youngstown is expected by the end of March.
Walter Good, vice president of economic development for the Youngstown/Warren Regional Chamber, said Wednesday that the company has indicated it will announce its decision by then.
He said chamber officials remain in dally contact with the maker of steel pipe as it considers whether to approve the $1 billion project next to its current mill on Martin Luther King Boulevard.
Good declined to say how likely he thought the project is but said Mahoning Valley leaders have worked hard on it.
“We’re in very good position should the company move forward with this project,” he said.
The latest move came last month when Youngstown City Council agreed to borrow $805,000 to buy a 62-acre railroad property that’s needed for the project. V&M is to reimburse the city.
Earlier last year, Youngstown and Girard reached an agreement that called for land to be annexed from Girard to Youngstown and the two cities to share in income- tax receipts.
With the proposed addition, the mill would add about 400 workers to its work force, which now numbers 450.