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Taxation plan for a development proposed by Nucor Steel OKed by Hancock County commissioners

By Craig Howell, The Weirton Daily Times

NEW CUMBERLAND, W.Va. — An agreement approved by Hancock County commissioners Thursday would set up a taxation plan for a development proposed by Nucor Steel in the county.

By a vote of 2-1, commissioners approved the Payment in Lieu of Taxes agreement with Nucor, which company officials indicated would involve the construction of a transloading facility.

The agreement originally had gone before the commission on April 26, but received no motion from commissioners and could not be taken up.

While noting he wasn’t in a position to discuss specifics about the investment of the project, the number of jobs to be created, or other details, David Reinhart, controller for Nucor, explained the planned facility would be a transloading operation.

“We would be shipping steel up here from the Apple Grove facility,” Reinhart said, referring to the company’s planned operation in Mason County currently under construction.

The agreement includes payments to the county of $12,500 for each of the first two years, beginning July 1, 2025, with increased payments based on Nucor reaching pre-determined milestones of investment.

There also is the possibility additional development could take place later on, beyond the existing plan, it was noted.

“This would just be, potentially, the first phase,” Commission President Jeff Davis said.

Reinhart provided affirmation, saying there was potential for expansion, including the creation of a “customer park” with additional businesses involved in the downstream processing of Nucor produced steel.

Pointing to the recent idling of Cleveland-Cliffs’ Weirton tinplate facility, as well as the closure of the rue21 distribution facility in Brooke County, Commissioner Paul Cowey, said he feels it is important to consider the potential benefits of such a project.

Read more: https://www.weirtondailytimes.com/news/local-news/2024/05/taxation-plan-for-a-development-proposed-by-nucor-steel-oked-by-hancock-county-commissioners/

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