Shares of General Motors reached an important milestone on Friday, closing above their initial public offering price of $33 for the first time in more than two years. GM shares reached $33.Steel Dynamics Inc. plans to expand in Butler, according to paperwork filed with the DeKalb County Council.
The Fort Wayne-based steelmaker is asking for a 10-year tax break on an $18.5 million project that would create 10 to 15 hourly jobs with pay ranging from $65,000 to $70,000.
Construction on the steel plant addition, at 4500 County Road 59, would begin after July 1 and be completed before Sept. 30, 2013, according to the filing.
The project’s budget includes $6.7 million in building costs and $11.8 million in new equipment.
Steel Dynamics’ Butler flat roll mill employs about 630. Wages, including bonuses, average $33 to $35 an hour. Salaried workers average $113,000, including bonuses.
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sslater@jg.net
