City supports Tenaris expansion – 75+ new possible jobs.
An Economic Develop Fund investment of $500,000 dollars has been approved by Council for Tenaris Industries.
David McHattie was the representative from Tenaris in front of council last night. He explained the transformation project is necessary to meet customer demand.
“This investment opportunity is important project for our Canadian business, our employees, our communities, and for our oil and gas, Canadian oil and gas customers,” said McHattie. “We appreciate the contribution that you’re considering the support is important for the success of our project.”
Deputy CAO of Community Development and Enterprise Services Tom Vair was on hand to explain a little more about the project including what benefits this would have to the city.
“It will add approximately 30,000 square feet of building and capital equipment will be installed as mentioned and leading to an increase in the tax assessment and value of the facility,” said Vair. “Tenaris indicated the project will create 75 new jobs in Sault Ste. Marie in year one…There’s also an added benefit to this project in that it has the potential to increase procurement from Algoma Steel of up to $200 million in dollars and hot-rolled coil that would be incremental to Algoma’s business today.”
Ward 5 Councillor Corey Gardi supported the project which would make Tenaris a world-class facility.
“Ward five is the industrial heart of this community. And all Councillors often hear about economic developments from constituents and we often hear we need more industry. Can you bring in some industry?” said Gardi. “This partnership is just that, an illustration and an effort towards that. I am in full support. And I hope all of my colleagues are as well as making this investment.”
Tenaris has approached other levels of government for investment in this project. If funding decisions are made quickly this expansion could be completed by the Fall of 2021.