By Craig Howell, The Weirton Daily Times
NEW CUMBERLAND, W.Va. — The Hancock County Board of Education, Tuesday, gave its approval to a financial agreement with Nucor Steel in connection with a facility the steel company plans to locate north of New Cumberland.
The board, through a unanimous vote, approved the Payment In Lieu of Taxes agreement with Nucor Steel West Virginia, the latest in a string of such agreements in the last year.
“Some of these are new businesses coming to the county,” explained Superintendent Dan Enich, pointing to previous PILOTs with Form Energy and Current Hydro.
According to Nucor officials, plans include the development of a transloading facility on property along state Route 2, which will be designed to complement the steel manufacturing operation currently under construction in Mason County.
Enich reported the Hancock County operation is expected to provide between 60 and 80 jobs, with the company transferring ownership of the land to the West Virginia Economic Development Authority which would make it exempt from the payment of property taxes.
