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Old 04-15-2019, 08:27 AM
Location: San Antonio
3,844 posts, read 4,171,515 times
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Steel Dynamics Inc. has focused on a site 30 miles north of Corpus Christi as a potential spot to build a $1.8 billion steel mill, and it's asking the local school district for $149 million in tax cuts before it decides.

The publicly traded company, based in Fort Wayne, Indiana, told investors in November of its plans to build a mill in the Southern United States to sell flat roll steel to customers across the South and in Mexico. Now it looks as if that plant, which the company said will cost $1.8 billion to build, might be coming to the town of Sinton in San Patricio County.

A subsidiary of Steel Dynamics (NYSE: STLD) filed a Chapter 313 application with the Sinton Independent School District on March 4 that was posted to the Texas Comptroller's website on March 29. The application is asking the school district to cut property taxes on the proposed facility by 70 percent, which would save the company $149 million over 10 years.

The property tax relief is critical to Steel Dynamics' decision to build in Sinton, as the company is also looking at several sites in Louisiana to build the mill, the company said in its application.
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Old 04-15-2019, 07:29 PM
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wow this is good news for Sinton possibly.
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