Joseph T. Ryerson & Son Inc. plans to invest $3 million to move into a second building and expand its fabrication facility.
“This new facility, along with the burning and fabrication equipment, will give us the resources necessary to grow our plate and fabrication business in the Southeast," Brad Ford, Ryerson’s vice president and general manager for the Carolinas and Virginia, said in a statement. "Wayne County is an ideal location with its proximity to steel suppliers, highways and a solid labor pool.”
The average wage for the new jobs will be $33,540. The average annual wage in Wayne County is $29,848.
Based in Chicago, Ryerson processes and distributes metals, such as stainless and carbon steel, aluminum, brass and copper. The company sells the metals in sheets, coils, plates, bars and other shapes, as needed by its customers. It also fabricates parts for various industries, including rail cars, heavy equipment, agricultural equipment and wind turbines.
The company qualified for a $100,000 grant from the One North Carolina Fund, which provides financial assistance to attract business projects to the state. Companies receive no money up front and must meet job and investment targets to obtain the funds.