75% tax abatement approved for former Syro Steel property in Girard
A 75% tax abatement has recently been approved for a new company planning to relocate in the former Syro Steel Building in Girard on Monday.
Girard Mayor, Jim Melfi tells 21 News the property has been in the city since the 1950s, was sold to Dallas-based company. Trinity Industries in the 1980s. Melfi tells us Trinity Industries ended operations in Girard around five to six years ago.
Now, Yellowstone Industrial LLC is bringing the North State Street property back to life creating new local jobs, and contractors are in the process of refurbishing the property according to Melfi.
Melfi tells 21 News this new company will create 25 new manufacturing jobs for the Mahoning Valley, which is one of many benefits of having this property back in local hands, along with the refurbishment and investments into the company.
"A lot of these large corporations buy these plants and these companies are gobbling them up. The City of Girard did not benefit from the purchase [of Syro Steel] from Trinity," Melfi said.