Steel processor & distributor Harbor Steel & Supply Corp has broken ground for a new USD 8 million operation in Bowling Green in Warren County in Kentucky US. Harbor Steel broke ground on a 50,000-square-foot facility in the Kentucky Transpark. In addition to the initial investment, the operation provides an opportunity for potential future expansion and job creation. The company’s investment includes the acquisition of laser machines, press brakes for forming, automated saws and other equipment. Work on the project is expected to be completed by Q3 of 2023. Harbor Steel currently has a location in Lexington, where it opened in 1991. The Bowling Green facility will support overflow from the Lexington operation and support the growth of the company’s customer base and service area.To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority in September 2021 preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to USD 500,000 in tax incentives based on the company’s investment of USD 8 million and annual targets of1. Creation and maintenance of 25 Kentucky-resident, full-time jobs across 10 years2. Paying an average hourly wage of USD 30 including benefits across those jobsAdditionally, KEDFA approved Harbor Steel for up to USD 100,000 in tax incentives through the Kentucky Enterprise Initiative Act. KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.Muskegon, Michigan-based Harbor Steel was founded in 1952. The company distributes and manufactures fabricated steel products and specializes in processed sheets and plates for a variety of markets. Harbor Steel’s services include sheet and tube laser cutting, plasma cutting, flame-cutting, saw cutting, forming and machining of hot-rolled and cold-rolled aluminum and stainless steel. Aside from its Kentucky presence, the company operates in Michigan, Indiana, Ohio and West Virginia.
Steel processor & distributor Harbor Steel & Supply Corp has broken ground for a new USD 8 million operation in Bowling Green in Warren County in Kentucky US. Harbor Steel broke ground on a 50,000-square-foot facility in the Kentucky Transpark. In addition to the initial investment, the operation provides an opportunity for potential future expansion and job creation. The company’s investment includes the acquisition of laser machines, press brakes for forming, automated saws and other equipment. Work on the project is expected to be completed by Q3 of 2023. Harbor Steel currently has a location in Lexington, where it opened in 1991. The Bowling Green facility will support overflow from the Lexington operation and support the growth of the company’s customer base and service area.To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority in September 2021 preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to USD 500,000 in tax incentives based on the company’s investment of USD 8 million and annual targets of1. Creation and maintenance of 25 Kentucky-resident, full-time jobs across 10 years2. Paying an average hourly wage of USD 30 including benefits across those jobsAdditionally, KEDFA approved Harbor Steel for up to USD 100,000 in tax incentives through the Kentucky Enterprise Initiative Act. KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.Muskegon, Michigan-based Harbor Steel was founded in 1952. The company distributes and manufactures fabricated steel products and specializes in processed sheets and plates for a variety of markets. Harbor Steel’s services include sheet and tube laser cutting, plasma cutting, flame-cutting, saw cutting, forming and machining of hot-rolled and cold-rolled aluminum and stainless steel. Aside from its Kentucky presence, the company operates in Michigan, Indiana, Ohio and West Virginia.
