Nucor Memphis plans steel mill expansion - WMC Action News 5 - Memphis, Tennessee

Nucor Memphis plans steel mill expansion

MEMPHIS, Tenn. (AP) - Nucor Steel Memphis is seeking a tax break on a $113 million expansion the company says will add 27 jobs.

The Memphis mill makes carbon alloy steel for auto makers and heavy equipment manufacturers and currently employs 398 people. The planned expansion would increase production by 25%, according to The Commercial Appeal.

The EDGE/Industrial Development Board will consider on Wednesday Nucor's application for a payment-in-lieu-of-taxes arrangement. In it, the company states the expected benefit of new tax revenue slightly outweighs the cost of abated taxes at about $9.5 million.

Nucor also plans to expand its rail yard, buying another 42 acres of land.

The Charlotte, N.C. - based company last month announced it would spend $290 million to expand capacity at three U.S. steel mills.

Information from: The Commercial Appeal.

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