Decision expected soon on $81.5 million VAM facility

Decision expected soon on $81.5 million VAM facility

YOUNGSTOWN

A decision by a Vallourec Star sister company to invest $81.5 million to construct another facility in Youngstown “looks promising” and should be made in the next 30 days, said city Finance Director David Bozanich.

The city’s board of control voted today in favor of a development deal with VAM USA LLC on a tax abatement, $369,000 for sanitary and storm water sewer infrastructure, and a lease/purchase option for the land for the construction of a steel-pipe threading facility in the Ohio Works Business Park.

The company plans to hire 84 full-time workers by next year with an estimated payroll of $2.9 million to $3.7 million, according to its tax abatement application.

This facility would be about a mile from Vallourec Star’s $1.1 billion expansion mill that opened in October 2012.

For the complete story, read Friday’s Vindicator and Vindy.com