Family-Owned Steel Service Provider Announces Major Expansion
Steel Warehouse Co., an esteemed steel solutions provider rooted in Indiana, recently disclosed plans for a significant expansion in Hickory. The family-owned company intends to infuse a capital investment of $30.5 million with the overall aim of adding 58 new job opportunities to the local community, according to our reliable sources.
An Attempt To Strengthen Industrial Supply Chain
The proposed expansion is a strategic effort on part of the company to maximize its processing capabilities, consequently fortifying the region’s industrial supply chain. With an operational network spanning 15 locations across the United States, Mexico, and Brazil, Steel Warehouse Co. has a significant footprint in the steel industry. As an influential distributor of over 2 million tons of coil, sheet, and plate every year, the company caters to a variety of sectors. These range from aerospace to agriculture, and from automotive to construction, not forgetting the essential energy and transportation sectors.
Committed to Community Growth
In keeping with its commitment to community growth, the newly created positions at the Hickory facility will boast an average annual wage of approximately $62,000. This is notably higher than the average wage of Catawba County which stands at $54,151. With this, Steel Warehouse Co. intends to elevate the living standards of the county’s residents and contribute to local economic growth.
Performance-Based Incentives
Beyond this, the company has successfully qualified for up to $120,000 in performance-based incentives from the One North Carolina Fund. This, however, is contingent upon the fulfillment of local incentives. This move undoubtedly stands as a testament to Steel Warehouse Co.’s dedication to prosperity and performance, while also providing a fillip to the local economy.
Conclusion
All in all, the major expansion of Steel Warehouse Co. in Hickory stands as a gleaming testament to the company’s dedication to fortifying the industrial supply chain while also fostering community growth. The investment embodies a promising future for the local community of Hickory and the steel industry at large. From our in-house sources, we can conclude that this move might indeed be a game-changer, benefitting not just the company but also the wider communities it serves.
