Missouri Business Headlines

Missouri welcomes Nucor’s $250 million investment in Sedalia

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Following a multistate site selection process, Nucor Corp. will build a new rebar micro mill in Sedalia, creating 255 full-time jobs in the community.

Based in North Carolina, Nucor’s $250 million expansion effort was highly competitive and sought after by several states. The new facility is expected to open in 2019. Nucor expects the Sedalia location to give the company a logistical advantage versus existing rebar sources, which have to travel long distances to markets in this region.

“This rebar micro mill project is consistent with our long-term strategy for profitable growth and builds on our position as a low-cost producer,” said John Ferriola, Chairman, CEO and president of Nucor. “Strategically positioning this micro mill in the Kansas City area will give us a sustained cost advantage over other domestic steel producers supplying rebar from outside the region.”

The expansion was announced on Nov. 21 during a rally-style event at the Missouri State Fairgrounds. Missouri Gov. Eric Greitens led cheers regaling the state’s ability to close the deal.

“We are changing the future of Sedalia and Pettis County because we got it done!” Greitens said. “We are telling the world that Missouri is open for business because together we got it done!”

Dan Mehan, president and CEO of the Missouri Chamber of Commerce and Industry, said the decision to locate this project in Missouri is a powerful illustration of Missouri’s increasing ability to compete for, and win, big business expansion projects.

“Today, when site selectors look at Missouri, they see a highly competitive state that is primed for business investment. We are ready to win and today’s Nucor announcement shows how creating a pro-business environment in a state can help attract jobs for Missourians,” Mehan said. “I am bullish on where we stand and where our economy is headed. Recent legislative efforts such as bringing right-to-work to Missouri and reforming our state’s legal climate — both goals of the Missouri 2030 strategic plan — will continue to put Missouri in great position for more growth. I’d like to thank Gov. Eric Greitens, the leaders in the Missouri General Assembly and the state’s business community for standing up and making economic growth a top priority.”

Nucor ranks 169 on the 2017 Fortune 500 list with $16.6 billion in revenue. The company’s energy efficient furnaces turn more than 17 million tons of scrap into new steel every year, making Nucor the largest recycler in North America.

Nucor officials say that in addition to the hundreds of permanent jobs coming to Sedalia, construction of the new mill will create 450 temporary construction jobs. The permanent jobs at the mill are expected to pay an average of $65,000 per year.

“We would like to thank state and local officials who have assisted us with the project, including Governor Greitens, the Missouri Department of Economic Development, the City of Sedalia, Pettis County, and Kansas City Power & Light,” said Dave Sumoski, Executive Vice President of Merchant and Rebar Products. “Our bar mills have been the foundation of our company, and we believe strategically supplying underserved markets will allow our bar business to continue to generate significant value in the future.  We are encouraged by the tremendous support received by the state and local community in Missouri.”

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