Ratner Steel Supply Company, a producer of steel products based in
Roseville, Minn., recently announced plans to locate a new facility at the
Port of Indiana, creating up to 30 new jobs by 2015.
Ratner, which produces steel sheets and plates, will invest $14.25 million
to build and equip a 102,000 square-foot steel service facility located at
the Lake Michigan port. Construction on the facility will begin later this
month with the facility slated to be operational in early 2013.
“Having a Minnesota-based company like Ratner Steel decide to open a
facility in Indiana reinforces our magnetic appeal to companies across the
Midwest," Indiana Secretary of Commerce Dan Hasler said in a statement
released on Friday. “More and more companies are finding our pro-business,
low-tax environment advantageous to their growth.”
Ratner Steel, which currently has 62 full-time employees nationwide, plans
to begin hiring new sales, clerical, and production associates in October.
“While we easily could have opened a facility at any location, Indiana's
business climate provided just the sort of location we were looking for,"
said Steve Gottlieb, general manager and chief financial officer of Ratner
Steel. “This new facility allows our company unequivocal access to our
customers while strategically placing ourselves in a position for future
Founded more than 25 years ago, the company serves customers in the
agricultural, fabrication, and energy industries throughout the Midwest and
Canada. In 2011, Ratner Steel recorded more than $100 million in sales.
The Port of Indiana is now home to 30 companies, including 16 steel-related
firms, which benefit from the facility's multi-modal connections,
specialized services and foreign-trade zone status. The 600-acre port
handled more than 2 million tons of cargo in 2011 via international ships,
lake vessels, and river barges.
“This port is home to the who's who of steel companies and Ratner Steel is a
great addition,” said Rich Cooper, CEO for the Ports of Indiana. “Ratner
will not only benefit from synergies with existing port companies but also
from being able to access our railroad, highway and waterway connections,
which can significantly reduce transportation costs.”
The Indiana Economic Development Corporation offered Ratner Steel Supply Co.
up to $210,000 in conditional tax credits based on the company's job
creation plans. These tax credits are performance-based, meaning until
Hoosiers are hired, the company is not eligible to claim incentives. The
City of Portage approved additional property tax abatement.
“Portage is the beneficiary of the exceptional work of the IEDC, the Port of
Indiana, and the Portage Economic Development Corporation,” said Portage
Mayor James Snyder. “Like Ratner Steel, anyone looking to bring jobs to
Portage can rest assured we have the best team and location to help them
call Portage home. We are grateful Ratner Steel has chosen Portage as their
expansion location and we believe they are just a start to a strong economic