Steel mill is investment in regionPublished 12:00am Sunday, October 14, 2012
Developers of an electric arc steel mill in Haverhill are seeking financial partners to help the long-rumored project become a reality. An important thing to remember is that this is an investment into all of southern Ohio just as much as it is the industrial project.
New Steel International officials are hoping to raise approximately $380,000 — to go with the $120,000 already in hand — to complete preparatory work and a feasibility study that is needed to pave the way for more private investments and support from the state of Ohio, something that has sadly been lacking to this point.
If the New Steel project ever materializes as projected, it would add hundreds of construction jobs and dozens of permanent, high-paying positions as well as sparking spin-off industry and boost the entire regional economy.
Local economic development groups should take a long look at this project. While $380,000 may be a lot for private investors, in terms of economic development investment it really isn’t that much at all.
The myriad of government and economic development groups in Lawrence and Scioto counties should step up to do their part. Then the state of Ohio must do the same.