For the first time in nearly a decade, one local steel mill could be producing steel again.
Acero Junction will soon be able to produce steel thanks a possible $26.2 million discount they will get from the Public Utilities Commission of Ohio.
This deal will last for the next six years with the goal of creating new jobs and investments in the area.
In order to receive this discount, the company must create 270 jobs within three-years of resuming full steel production.
The company is also required to make a minimum investment of $60 million in its facilities within one year of resuming steel making.
Either way, Ohio Valley residents are ecstatic about the possibility of new jobs.
“I think this is great news. The steel industry’s coming back. We’ve got men working down there right now. It’s great to be in the up-cycle. I’ve seen the down-cycle, but our Valley is ready to go,” said Kyle Brown, IBEW Local Union 246.
“Anytime you hear about a new gas fired power-plant or opening up the steel mill in Mingo again, that’s awesome. Probably haven’t heard that type of news since the steel mills originally opened. That’s the kind of exiting we’re always looking for. These jobs are rewarding,” added Clint Powell, Laborers Local 809.
This arrangement with the Public Utilities Commission runs through May 2024.
Stay with 7News for further developments.