Governor Blanco loses another deal to Ditech.
Alabama gets ThyssenKrupp steel plant
Staff and agencies
11 May, 2007
By GARRY MITCHELL, Associated Press Writer 44 minutes ago
MOBILE, Ala. - German steelmaker ThyssenKrupp AG said Friday it will build a $4.19 billion steel plant in Alabama in a project that could create thousands of jobs. Louisiana was the other finalist, and both states offered millions of dollars in tax breaks and other incentives to get the plant.
But a steelworkers union official said the plant could hurt the industry.
The plant, set to open in 2010, would employ as many as 2,700 workers when fully operational and create as many as 38,000 related jobs ranging from suppliers to transportation to dining and entertainment, the company said.
The steel company was lured by tax breaks and a $400 million incentives package approved by the state legislature. Alabama‘s proposal also was endorsed by governors and U.S. senators in neighboring Mississippi and Florida, with potential workers living near the plant site.
Louisiana Gov. Kathleen Blanco said it was a “tremendous honor” to be one of two finalists among 20 states that had bid for the project.
The plant would be ThyssenKrupp‘s first steelmaking operation in the United States.
Initially, the company had said the project would run some $2.9 billion, but raised the amount because “higher capacities and extended plant configurations were shown to be feasible and economic.”
The facility will have an annual capacity of 4.1 million metric tons of carbon steel end products.
Pam Smart, a longtime waitress at the tiny Bee-Hive Cafe on U.S. 43 at Calvert, said Thursday she may sell her home and move.
“Pat Smart, waitress at the Beehive may sell her home and move” Those tax incentives work, grond not broken and job openings already!