Nucor Corporation announced this week that it will invest $100 million to add a new electric arc furnace melt shop in Kingman, Ariz., which would add an additional 140 jobs.
Construction on the new facility is expected to take two years, a news release from the company said this week.
"This investment in a new melt shop at our bar mill is part of our strategy to grow our core steelmaking business and will help us maintain our market leadership position in steel bar production," Leon Topalian, Nucor president and CEO, said in the release.
The shop will have the potential to produce 600,000 tons annually, the release said. The 140 full-time jobs are expected to have an annual wage of approximately $85,000.
"Adding new melt shop capacity will help meet the growing demand for steel bar products in the Western region, which is one of the fastest growing areas in the U.S.," Topalian said.
Nucor is the largest steel and steel products producer in the U.S., and local officials welcomed its expansion.
"Nucor's new sustainable steel production facility will strengthen Arizona's vibrant manufacturing ecosystem," Sandra Watson, president and CEO of the Arizona Commerce Authority, said in a the release. "Nucor's new facility will produce quality steel and steel products while maintaining the highest safety and sustainability standards. We are grateful for Nucor's commitment to Kingman, creating high-wage jobs while driving further economic growth in the area."
Nucor has 15 bar mills in the United States that manufacture a broad range of steel products, including concrete reinforcing bars, hot-rolled bars, rounds, light shapes, structural angles, channels and wire rod, as well as highway products in carbon and alloy steels; the release said.
“Nucor’s expansion and resulting high-wage jobs will greatly contribute to the economic prosperity of our city and region,” Kingman Mayor Jen Miles said in a recent Arizona Commerce Authority report. “Their investment adds to Kingman’s growing manufacturing base and in doing so, will create exciting new opportunities for our citizens. We welcome Nucor’s expansion and thank them for their positive and ongoing commitment and contributions to our city.”