Vallourec Star subsidiary could bring more jobs to Youngstown - WFMJ.com News weather sports for Youngstown-Warren Ohio

Updated

Vallourec Star subsidiary could bring more jobs to Youngstown

Posted: Updated:

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.

  • SpotlightSpotlightMore>>

  • Stuff the Bus!

    Stuff the Bus!

    Sunday, August 13 2017 7:52 PM EDT2017-08-13 23:52:49 GMT

    21 WFMJ, Great Clips, Cocca’s Pizza and Huntington Bank have teamed up with the United Way to “Stuff the Bus,” now through September 3rd.   

    More >>

    21 WFMJ, Great Clips, Cocca’s Pizza and Huntington Bank have teamed up with the United Way to “Stuff the Bus,” now through September 3rd.   

    More >>
  • Panerathon 2017 Team Peacock Registration

    Panerathon 2017 Team Peacock Registration

    Sunday, July 30 2017 8:13 PM EDT2017-07-31 00:13:49 GMT

    Join 21 WFMJ this year for Panerathon 2017!  We want to have the biggest team at Panerathon this year and we need your help. 

    More >>

    Join 21 WFMJ this year for Panerathon 2017!  We want to have the biggest team at Panerathon this year and we need your help. 

    More >>
  • Weather Pics

    Weather Pics

    Check out weather related pics from our viewers!  Please send your pics to weatherpics@wfmj.com.

    More >>

    Check out weather related pics from our viewers!  Please send your pics to weatherpics@wfmj.com.

    More >>
Powered by Frankly
All content © Copyright 2000 - 2017 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms