The passage of an economic development incentive bill designed to attract a steel maker to West Virginia was swift today. In a Special Session, the West Virginia Legislature passed HB 101 which will provide a 50%tax incentive to heavy industry locating in the State. To qualify for the tax incentive, the industry would need to invest $2 billion in the facility and employee at least 500 workers according to the bill. The only dissenting vote in the State Senate was Sen. Owen Brown (1st-D) from Ohio County. The bill also stipulates that no municipality may levy a B&0 or other taxes on the facility.
While Governor Jim Justice has yet to identify the industry being sought, other sources have identified NUCOR as the steelmaker. In Sept. NUCOR announced it would build a $2.4 billion, 3-million-ton sheet mill which will employ 800 workers. The company said it was seeking a site in West Virginia, Ohio or Pennsylvania. House Speaker Roger Henshaw, speaking on WV Metro News, acknowledged that Mason County and a site “outside of Weirton” were being considered for the plant. A Mason County news outlet reported that NUCOR had already purchased 1,370 acres in Mason County. NUCOR’s media site said the plant is expected to take 2 years to construct. A total of 1,000 construction jobs are expected to be generated.
NUCOR also announced last month it will build a “micro mill” in the South Atlantic region.
