NEW YORK Carpenter Technology Corp. will invest $13 million in another facility in Limestone County, Ala., to support the construction of its $500-million premium alloy plant there.
"They bought a facility that will act as the staging area for equipment thats going to come in for the manufacturing plant," Tom Hill, president of the Limestone County Economic Development Association, told AMM, adding that the new facility was "adjacent" to the site chosen for the premium alloy plant.
The facility, which measures about 550,000 square feet, once housed a parts plant for General Motors Co., according to Hill. "That building has got room to grow for them," he said.
Carpenter will get $762,000 in sales, use and ad valorem tax breaks for the construction of the staging facility, but will pay $498,000 in sales, use and ad valorem tax for education in return, according to Hill.
A Carpenter spokesman confirmed Hills information.
Wyomissing, Pa.-based Carpenters premium products facility will produce about 10,000 tons of premium alloys for the aerospace and energy markets in its first year of operation before ramping up to its full capacity of 27,000 tons over the next four years (AMM, May 1).