Vallourec Star subsidiary could bring more jobs to Youngstown - 21 News Now, More Local News for Youngstown, Ohio -

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Vallourec Star subsidiary could bring more jobs to Youngstown

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YOUNGSTOWN, Ohio - A major expansion is being considered in Youngstown, by a company affiliated with Vallourec Star.

It's a project that could bring 84 new full-time jobs to the Valley by early 2015.

VAM USA is a subsidiary of Vallourec Star, and the company will decide in the next 90 days whether to invest $81.5-Million in Youngstown, to construct a steel-pipe threading facility.

The new finishing mill would be located at the former Genmak Steel Building, and nearly 68,000 square feet on neighboring property on Ohio Works Drive in the city.

Youngstown Mayor John McNally is excited about the prospect.

"I certainly think the positive addition of 84-jobs, the payroll which is somewhere in the neighborhood of $3.5-Million, approximately $80,000 in income taxes that the city could receive annually. We're very happy if this comes to fruition here in the next few months," Mayor McNally said.

On Wednesday, Youngstown City Council will vote on whether to authorize an enterprise zone agreement. It would give VAM USA a 10-year, 75% real-estate tax abatement. Incentive for Vallourec and it's affiliated companies to continue to invest in Youngstown, and critical for the city's economic development.

"Maintaining our good relationships, maintaining employment, and hopefully gaining new employment, gaining new city tax dollars, and continuing to have great relationships with folks down on the 422 corridor," Mayor McNally said.

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