Steel Fab to open new operation in Lebanon
Steel Fab is moving its operations to Russell County and establishing a pressure tank operation, saving 240 jobs for Virginia and creating 50 new jobs.
Steel Fab, a division of Samuel, Son & Co. Ltd., the largest family-owned metals processor and distributor in North America, will spend $1.5 million on the investment.
“Russell offered an available facility that will accommodate all processes under one roof, with room for expansion,” Gov. Bob McDonnell said in a press release.”
Steel Fab is experiencing growth because of increased business from oil and gas extraction in North America. It currently employs 240 in Washington County.
The company had considered moving its operations outside Virginia.
“By choosing the Russell County, Virginia location, the new facility will enable Steel Fab to properly organize and optimize its production in one facility,” said a spokesman for Steel Fab. “It will allow Steel Fab to expand its product line into larger pressure vessel tanks. The financial package presented by the local and state governments made it very attractive, along with the excellent quality and available workforce.
McDonnell approved a $100,000 grant from the Governor's Opportunity Fund to help Russell County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission also approved $160,000 in Tobacco Region Opportunity Funds.