State giving $300,000 toward VAM USA project

Staff report

YOUNGSTOWN

JobsOhio is giving $300,000 to the city with the money going to VAM USA for its $80 million expansion on Ohio Works Drive.

The board of control is expected today to approve the grant agreement with JobsOhio, the private, nonprofit economic-development organization for the state, said city Finance Director David Bozanich, the board’s secretary.

VAM, a Vallourec Star subsidiary, is building a steel-pipe-threading facility about a mile from the company’s $1.1 billion mill that opened last year.

The company expects to create 71 full-time positions, generating $3.2 million in annual payroll, at the Ohio Works Drive location.

The project is about 80 percent complete and is expected to open in the second quarter of next year.

VAM received a tax credit earlier this month from the Ohio Tax Credit Authority for this project.

The $300,000 from Jobs-Ohio was part of the incentive package the state is providing to VAM for the expansion.