Steel Ventures Inc., an affiliate of Huntington-based Steel of West Virginia Inc., announced this week plans for a $16 million expansion of an existing facility in Wurtland, Kentucky to establish a galvanizing and distribution operation. The expansion will require 65 new positions.
According to media reports, the new facility will allow the company to coat a variety of products including truck trailer cross members, I-beams, guardrail posts, complex fabricated assemblies and parts.
Steel for the operations will be provided by Steel of West Virginia’s Huntington facility as well as other businesses and plants in the surrounding region.
The expansion was funded in part by $150,000 in tax incentives through the Kentucky Enterprise Initiative Act, which allows companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.