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The Alabama Jobs Act, which provides tax credits and rebates to new industries, will expire on Dec. 31.
The project will create 279 direct jobs and expand the potential for Alabama’s auto industry to capitalize on the growing EV wave.
The additional investment brings the total figure in the state-of-the-art facility in Huntsville to $2.311 billion, up from the $1.6 billion originally announced in 2018.
ArcelorMittal, which now operates the facility in a partnership with Nippon Steel Corp., announced plans today to add the electric arc furnace, or EAF, capable of producing 1.5 metric tons of steel annually.
The facility seeks to support approximately 1,500 stores through the company’s Fresh initiative, a strategic multiphase shift to self-distribution of frozen and refrigerated goods.
The expansion will allow SiO2 to increase its production capacity to meet the U.S. government’s critical need for vials and syringes while maintaining the existing production needs of other customers.
This new mining operation in Tuscaloosa County involves a total investment of $578 million and will create 371 jobs.
2019 represents one of the most productive years for economic development in Alabama.
Annual payroll at the high-tech facility will top $46 million.