CNBC here to look at local economy

YOUNGSTOWN — CNBC is in the Mahoning Valley today to learn about the economy here, according to the Youngstown/Warren Regional Chamber of Commerce.

The media outlet will look specifically at the impact of Vallourec Star, 2669 Martin Luther King Jr. Blvd.

The facility started its production of small-diameter pipe for sales in the U.S. and Canadian markets in October 2012 and created 350 jobs in the Valley.

In June 2013, the company had a dedication ceremony for a new seamless pipe mill. The more than $1 billion facility was built to keep up with the demand for small-diameter pipe used in hydraulic fracturing.

Vallourec Star falls under the France-based company Vallourec USA.

Vallourec is a world leader in premium tubular solutions primarily serving the energy market. The company employs 24,000.

Construction on the Youngstown Vallorec Star’s sister company VAM USA steel-pipe threading plant began this year. The plant cost more than $80 million to build. It is co-owned by Vallourec, Nippon Steel Sumitomo Metals Corp. and Sumitomo Corp.