GAGE’s Dewey Cites Refilling Abandoned Buildings as a Priority for GAGE
(EVANSVILLE, IN) – January 18, 2011 – Evansville Mayor Jonathan Weinzapfel announced
today that Sugar Steel Corporation, headquartered in Chicago Heights, Ill., has opened a
structural steel distribution center with first stage steel processing capabilities at 3350 Claremont Ave. in Evansville. Sugar Steel will make a personal property investment of approximately $920,000 and create up to 26 new jobs by 2012.
“Creating jobs and stimulating the local economy continue to be my priority. While the creation
of even a single new job in the current economy is noteworthy, the fact that 26 local residents
and their families will benefit from Sugar Steel’s decision to open this facility in Evansville is
truly an event to celebrate,†said Mayor Weinzapfel. “Today’s announcement underscores the
value of collaboration, partnership and innovation with regard to regional economic development
efforts.â€
Sugar Steel’s first stage processing services for steel beams, angles, channels, tubes, pipes,
plates, and other structural components include sawing, plate cutting, flame cutting, plate
drilling, shearing, splitting, cambering, and shot blasting for structural steel fabricators and
manufacturing customers. Sugar Steel is a wholly-owned subsidiary of Reliance Steel &
Aluminum Co. (NYSE: RS). Sugar Steel’s Evansville distribution center, located in the former
Patriot Steel facility, is Sugar Steel’s first operation outside of its Illinois headquarters, which
employs approximately 90 people.
“GAGE wants to identify and secure other projects like Sugar Steel, projects that make use of
existing facilities in Vanderburgh County that are currently idle,†said Debbie Dewey, President
of the Growth Alliance for Greater Evansville. “More importantly, we want more projects like
this one that will re-employ Vanderburgh County residents who once worked in those facilities.â€
Local and State officials worked closely with Sugar Steel representatives to formulate an
economic development incentive package to assist Sugar Steel with this project.
For its part, the City of Evansville will offer a six-year tax phase-in on Sugar Steel’s personal property
investment. The tax phase-in has an estimated gross and present value of $40,000. Tax phase-in
allows for the gradual phasing in of property tax that has occurred due to an increase in assessed
value of a building and/or the purchase of equipment. In a six-year tax phase-in, full taxes on
improvements commence in the seventh year. The six-year tax phase-in is contingent upon City
Council approval. In addition, the Indiana Economic Development Corporation (IEDC) offered
Sugar Steel up to $175,000 in performance-based tax credits based on the company’s job
creation plans.
“Building an environment that encourages companies like Sugar Steel to choose Indiana over all
other options is our top priority and we are glad to partner with this company as they create even
more opportunities in southwest Indiana,†said Mitch Roob, Secretary of Commerce and chief
executive officer of the IEDC.
CCO,
Careful with the headlines here… Anymore we Evansville residents are very cautious when you say that one of our governmental bureaus, “celebrate”.
That might imply anything from opening expensive wine, to buying personal gift cards on the government vendor accounts, to buying concert tickets, to forcing government staffers to help further your political career – all on the taxpayers dime?
All of these buildings, which are only a little ways from my house, were looking pretty nasty. I hope they can refurbish them.
I also hope we can get the old Wal-Mart complex rolling again.
Comments are closed.