SDI Draws Near to Site Decision on New Sheet Mill
06/13/2019 - The Texas Comptroller’s office has ruled that Steel Dynamic Inc.’s proposed southwest flat-rolled mill qualifies for local tax breaks, a decision that potentially opens the door to an agreement on economic incentives for the mill – and possibly a final decision on its location.
According to the Corpus Christi (Texas) Caller-Times, the Comptroller’s Office found that the mill is likely to generate tax revenues that will offset the tax loss to the Sinton Independent School District in San Patricio County.
The newspaper said the decision allows the company and mill to negotiate financial terms of an economic incentive plan.
Steel Dynamics hasn’t yet made a final decision on the mill’s location and has been looking at sites in Texas and Louisiana. However, chief executive Mark Millett told Fastmarkets AMM earlier this week that the company expects to pick a site before month’s end.
