(Read more on the industrial market.)
MOBILE, AL-ThyssenKrupp AG has selected Alabama over Louisiana as the home for a $3.7-billion, state-of-the-art manufacturing plant. The site was selected following months of speculation over whether the German-headquartered giant would build the carbon and stainless steel plant in St. James Parrish, LA or Alabama's northern Mobile and southern Washington counties.
Construction is anticipated to begin in late 2007. The plant is scheduled to come on line in 2010.
According to a press release about the site decision, the Dusseldorf-headquartered company selected the Alabama site because of logistics, operating costs and site-specific capital expenditures. "This was a very difficult decision. Louisiana made an excellent proposal and has many important and valuable attributes for business development," Bob Soulliere, president and CEO of ThyssenKrupp Steel and Stainless USA, says in the release. He added his belief that economic ripple effects of the new plant would end up benefiting the entire regional economy.
"This is a game-changing decision for Mobile, Alabama," Mayor Sam Jones says in a city-generated press release about the news. "We are no longer living on potential--we are living up to it. This plant will have a tremendously positive impact on our citizens for years to come."
The new facility is a cooperative effort between ThyssenKrupp Steel and ThyssenKrupp Stainless. It will process carbon steel and stainless steel for high-value applications by manufacturers throughout North America. The plant will supply a variety of industries including automotive, construction, electrical and utility as well as manufacturers of appliances, precision machinery and engineered products.
The plant's construction, considered one of the largest private industrial development projects in the US, is anticipated to generate 29,000 jobs. Once fully operational, the plant will employ 2,700 workers. The 20-year projection is thousands of indirect jobs will be created as a result.
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