Announced Monday, October 22, 2018 – 1:00 p.m. MST
Celebrating the past, present and future of the Steel Industry in Pueblo!
PUEBLO – EVRAZ Rocky Mountain Steel, the Pueblo Economic Development Corporation, City of Pueblo, Pueblo County, and Pueblo Urban Renewal Authority announced a local incentive package to assist EVRAZ as it considers building a new rail steel mill in Pueblo. Established in 1881, EVRAZ Rocky Mountain Steel (then known as the Colorado Fuel and Iron Company) helped to build the American west by providing affordable steel and iron to the western territories and the nation’s expanding rail systems. Today, EVRAZ Rocky Mountain Steel produces the finest rail, seamless pipe, rod, and coiled reinforcing bar available.
“We are proud of the partnership between the steel mill and the Pueblo community, which stretches back to 1892, and one that we want to preserve for many decades to come,” said Conrad Winkler, President and CEO of EVRAZ North America. “Today marks a major milestone in our journey to build a 21st-century steel mill here in Pueblo. This commitment from the Pueblo community is critical to move into the next phase of study of the project.”
EVRAZ Rocky Mountain Steel, the Pueblo Economic Development Corporation, City of Pueblo, Pueblo County, and Pueblo Urban Renewal Authority made the announcement on October 22, 2018 @ 1:00 PM at the Pueblo Convention Center. Details of the incentive package include:
- EVRAZ would invest more than $200 million in equipment and other fixed assets and tangible personal property in a new rail mill that will be annexed into the City of Pueblo.
- New Pueblo Urban Renewal Authority project area, with Tax Increment Financing estimated to be in excess of $75 million
- EVRAZ would maintain 1,000 full time employees at an average pre-benefit wage of $60,000 to $65,000 per year
- $800,000 for pre-employment training at Pueblo Community College (contingent on approval from the Pueblo City Council)
- $15,000,000 from the City of Pueblo’s half cent fund for economic development (contingent on approval from the Pueblo City Council)
- EVRAZ would have until the December 1, 2019 to move forward on the incentive package
“PEDCO is honored to help EVRAZ with this important decision for both EVRAZ and Pueblo. We are proud of our steel industry and are confident in the future success of EVRAZ in Pueblo,” said Jeff Shaw, President and CEO of PEDCO. “It is hard to find anybody in Pueblo who has not had a family member work at the steel mill in the last 135 years. The investment the community looks to make in this project celebrates the incredible workforce at the steel mill who will continue to make Pueblo proud. We look forward to 135 more years,” said Jeff Shaw. “Since 1882, the year that the first rail came out of the Colorado Fuel and Iron Plant, Pueblo has been known as the Steel City. The steel industry and the CF&I steel mill, now EVRAZ, has literally been the backbone of the community. Not only does the mill produce steel that is used all over the world, it also provides thousands of direct and ancillary jobs that bolster the local economy and help keep Pueblo moving forward in a strong and thriving direction. We are happy and proud to celebrate the past, present and future of the steel industry in our community and the contributions that EVRAZ has made, and will continue to make for years to come,” said Andrew Trainor, Chairman of the Board of PEDCO.
About PEDCO: The Pueblo Economic Development Corporation (PEDCO) is a member-supported non-profit organization whose mission is to attract, retain and expand primary jobs. PEDCO works with city, county, state and community organizations to coordinate available resources for economic development.