Steel Dynamics, one of the largest domestic steel producers and metals recyclers in the United States, will invest $28 million in its Roanoke Bar Division in the City of Roanoke to purchase new equipment and make facility enhancements, including railroad track upgrades, and increasing capacity of its rolling mill operations. Working in partnership with the Virginia Jobs Investment Program (VJIP), Steel Dynamics’ 307 existing employees will be retrained to operate the new machinery.
“With more than 400 employees in Virginia, Steel Dynamics has been an important corporate partner to the City of Roanoke and the Commonwealth for over 60 years,” said Governor Terry McAuliffe. “Advanced manufacturing is a key element of a successful economy, and the company’s products are used across a wide variety of markets including agriculture, automotive, construction, energy and mining, among others. Steel Dynamics’ decision to reinvest in its operation and retrain more than 300 employees on new, modernized technology demonstrates a firm commitment to the Roanoke Valley, and we are proud to offer the Virginia Jobs Investment Program’s critical workforce training resources. We thank this leading manufacturer for assisting us in our ongoing efforts to diversify and build the new Virginia economy.”
“Steel Dynamics has built a strong reputation in the Roanoke region and in Virginia, which will be bolstered by these infrastructure enhancements and the retraining of 307 existing employees on new machinery,” said Secretary of Commerce and Trade Todd Haymore. “Virginia is an ideal home for manufacturing companies looking to grow, as evidenced by more than $13 billion invested in this critical sector in the past decade alone. We thank Steel Dynamics for its corporate partnership, and look forward to continued success.”
Since 1955, Steel Dynamics Roanoke Bar Division has been engaged in the manufacturing, scrap processing, and marketing of merchant steel products and billets. The company’s Roanoke steel mini-mill melts scrap steel in an electric arc furnace and continuously casts the molten steel into billets, which are rolled into merchant steel products consisting of angles, plain rounds, flats and channels. The Steel Dynamics Roanoke Bar Division markets its products to steel service centers, fabricators and original equipment manufacturers.
“We appreciate the partnership that has been built over the years with the Commonwealth of Virginia and City of Roanoke, and are excited to continue that partnership through investment in the Roanoke Bar Division expansion that will allow us to utilize existing excess melting and casting capability to increase rolling capacity and further diversify our product mix,” said Joe Crawford, Steel Dynamics Vice President and Roanoke Bar Division General Manager.
The Virginia Economic Development Partnership (VEDP) will support Steel Dynamics’ retraining through its Virginia Jobs Investment Program (VJIP). VJIP provides consultative services and funding to companies creating new jobs or experiencing technological change to support employee training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for its citizens.
The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development, as well as rail access funding from the Virginia Department of Rail and Public Transportation.
“The City of Roanoke congratulates Steel Dynamics on their commitment to significant investment in the Roanoke facility, and the retraining of much of their workforce,” said City of Roanoke Mayor Sherman Lea.“Steel Dynamics has been an integral member of our community for over 60 years, and has been an outstanding corporate citizen while providing hundreds of well-paying jobs which support many families in the Roanoke Valley. We look forward to working with Steel Dynamics on this expansion project, and wish them continued success in the future.”
“We are delighted to have Steel Dynamics here as a major employer in the Roanoke Valley and are grateful for their investments in Roanoke and its people,” said Delegate Sam Rasoul. “It is exciting to see their continued dedication to offering training so that the workforce can learn new skills. These opportunities are a win for both Roanoke and the new Virginia economy.”
“This is an important addition to our local economy for Steel Dynamics to expand its investment in advanced manufacturing in the City of Roanoke,” said Senator John Edwards. “This will create job opportunities and future growth to our local economy.”