VAM USA to open $81 million plant in Youngstown - 21 News Now, More Local News for Youngstown, Ohio -

Updated

VAM USA to open $81 million plant in Youngstown

Posted: Updated:
YOUNGSTOWN, Ohio - A multi-million dollar investment in Youngstown's steel industry is moving forward, bringing new skilled trades jobs to the Valley.

The city says VAM USA, a subsidiary of Vallourec, will build a new steel pipe threading facility within the Route 422 corridor.

Construction of VAM's $81.5 million plant is expected to start as soon as possible. 

VAM USA will create 80 new jobs at the facility, which will move in and replace the former Genmark Steel Building. Neighboring property on Ohio Works Drive was also acquired by the steel manufacturer.

Mayor John McNally says there's potential for the plant and the payroll to grow.

"I believe there's significant room for expansion, not only of work with VAM, but also with Vallourec, so we're this is not the last of future announcements," McNally says.

The city expects to see an economic benefit from income tax revenue. City Finance Director David Bozanich says the city will likely receive $250,000 and $300,000 annually. 

"We think the board of education will get approximately $400,000 to $500,000 annually in additional real estate taxes," Bozanich says.

The city board of control approved a 10 year, 75 percent real estate tax abatement-- an incentive to bring VAM to Ohio Works Drive.

McNally says the city aims to attract industry suppliers to the area and with shale industry growth nearby, he believes Vallourec will benefit in 2014.

"We believe that they're going to have a very busy year," he says. "We expect that to be good news for us across the board in our income tax collections, not only with VAM USA, but Vallourec as a whole."

The company plans to hire full-time workers by next year.
  • More From wfmj.comMore>>

  • Talking bird helped break school abduction case

    Talking bird helped break school abduction case

    Saturday, August 30 2014 5:51 PM EDT2014-08-30 21:51:32 GMT
    A Philadelphia detective has testified about a foul-mouthed bird that helped lead police to the woman charged with abducting a 5-year-old from school.More >>
    A Philadelphia detective has testified about a foul-mouthed bird that helped lead police to the woman charged with abducting a 5-year-old from school.
    More >>
  • Toledo zoo welcomes 100-year-old tortoise

    Toledo zoo welcomes 100-year-old tortoise

    Thursday, August 28 2014 8:11 AM EDT2014-08-28 12:11:09 GMT
    TOLEDO, Ohio (AP) - The newest resident of the Toledo Zoo is a 100-year-old dome-shelled Galapagos tortoise that weighs in at 440 pounds. The tortoise, named Emerson, arrived at the zoo Wednesday night from the San Diego Zoo. He was escorted by Toledo Zoo personnel on his flight to Detroit before being driven to Toledo and uncrated inside a heated shed. Handlers welcomed him with carrot and sweet potato treats and a neck rub. The (Toledo) Blade reports Emerson is the zoo's first Galapagos to...More >>
    TOLEDO, Ohio (AP) - The newest resident of the Toledo Zoo is a 100-year-old dome-shelled Galapagos tortoise that weighs in at 440 pounds. The tortoise, named Emerson, arrived at the zoo Wednesday night from the San Diego Zoo. He was escorted by Toledo Zoo personnel on his flight to Detroit before being driven to Toledo and uncrated inside a heated shed. Handlers welcomed him with carrot and sweet potato treats and a neck rub. The (Toledo) Blade reports Emerson is the zoo's first Galapagos to...More >>
  • Ohio serial rapist gets 135 years in prison

    Ohio serial rapist gets 135 years in prison

    Thursday, August 28 2014 8:10 AM EDT2014-08-28 12:10:21 GMT
    CLEVELAND (AP) - A man who was linked to seven Cleveland-area rapes when authorities reopened hundreds of previously unsolved rape cases has been sentenced to up to 135 years in prison. The sentence by a judge in Cuyahoga County on Wednesday means 69-year-old Robert Green likely will never get out of prison. He was indicted in five of the cases in November and two more in May. He pleaded guilty. The (Cleveland) Plain Dealer reports that the rapes occurred over nearly a decade. They were unso...More >>
    CLEVELAND (AP) - A man who was linked to seven Cleveland-area rapes when authorities reopened hundreds of previously unsolved rape cases has been sentenced to up to 135 years in prison. The sentence by a judge in Cuyahoga County on Wednesday means 69-year-old Robert Green likely will never get out of prison. He was indicted in five of the cases in November and two more in May. He pleaded guilty. The (Cleveland) Plain Dealer reports that the rapes occurred over nearly a decade. They were unso...More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms