ICYMI: Nucor Steel expanding

In case you missed it, here’s what we posted Friday afternoon about an expansion at Nucor Steel in Memphis –

The company is planning to increase its manufacturing output by up to 25 percent, create 27 new jobs at its 3601 Paul R. Lowery Road location and acquire about 42 acres on the east side of Paul Lowry from the Port Commission. That new acreage would help expand Nucor’s rail infrastructure.

To that end, the company is requesting a 15-year tax freeze at the Wed., Feb. 15, EDGE Board meeting. In return, the company would invest $113 million to produce “high-quality carbon alloy steel for the automotive, heavy equipment and service center markets.”

Nucor currently has about 400 direct jobs in the city and has invested about $400 million in its local operations.