|From:||Lenny Siegel <firstname.lastname@example.org>|
|Date:||Sat, 11 Oct 2008 08:22:40 -0700 (PDT)|
|Subject:||[CPEO-BIF] SeverStal Steel, Dearborn, Michigan|
Council action paves way for $1.6 billion SeverStal investment By Jason Carmel Davis Dearborn Press & Guide (MI) October 8, 2008DEARBORN - SeverStal Steel, which has its North American headquarters in Dearborn, is set to invest about $1.6 billion in the Ford Rouge plant where it manufactures steel for use in Ford Motor Co. vehicles. Dearborn City Council members Monday night unanimously approved a Brownfield Reimbursement Agreement among the city of Dearborn, the Brownfield Redevelopment Authority and SeverStal.
The agreement means that the company would be able to recapture a portion of its investment - around $25 million - over 20 years, according to Council President Tom Tafelski. Tafelski also said the investment will retain jobs, along with bringing in about 75 new positions.
...To help in the process, the city of Dearborn, in partnership with the state of Michigan and the Michigan Economic Development Corp. (MEDC), prepared a Brownfield Redevelopment grant — approved Monday night — that gives SeverStal millions of dollars in tax credits to clean up environmentally contaminated sites and build new facilities, O'Reilly said.
... For the entire article, see http://www.pressandguide.com/stories/100808/loc_20081008002.shtml -- Lenny Siegel Executive Director, Center for Public Environmental Oversight a project of the Pacific Studies Center 278-A Hope St., Mountain View, CA 94041 Voice: 650/961-8918 or 650/969-1545 Fax: 650/961-8918 <email@example.com> http://www.cpeo.org _______________________________________________ Brownfields mailing list Brownfields@lists.cpeo.org http://lists.cpeo.org/listinfo.cgi/brownfields-cpeo.org
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