Mar. 16—The Vigo County Redevelopment Commission, in a special meeting Tuesday, approved a bid of $1 per acre from Steel Dynamics Inc.
The commission sold 8.97 acres, considered un-buildable, to Steel Dynamics Inc. The commission in October leased the land to allow the company to start on an expansion project.
The land is located east of and adjacent to the Steel Dynamic's plant at 455 W. Industrial Drive in the Vigo County Industrial Park south of Terre Haute.
The company intends to expand, building a 400,000+-square-foot building at a cost of about $34.65 million and install $196.35 million in new equipment. The expansion will create 84 jobs, with an annual salary of $80,000 plus benefits.
The new building's design was shifted to the east to avoid railroad spurs.
The new building is slated to be 1,600 feet long and 180 feet wide, containing a new paint line and a second galvanizing line, each slated to go into operation in 2023. Company representatives told the commission Tuesday that rain in February has made site work a challenge due to wet ground, but the project remains on schedule with 17 column lines of footers already in place.
Excavation for the addition is expected to start in the next few weeks.