March 8. Steel Warehouse Co., a South Bend, Indiana-based steel company, will invest $30.5 million in a new facility in Hickory .

It means 58 new jobs, with an average annual wage of $62,000, exceeding the Catawba County average of $54,151.

Annual payroll: More than $3.5 million.

Background

The 77-year-old company operates 15 locations across the U.S., Mexico and Brazil, distributing more than 2 million tons of coil, sheet and plate steel annually in hot- and cold-rolled materials. The company is known for its experience in managing inventory and providing just-in-time shipments, ensuring timely and efficient delivery to meet customer needs, according to a release from the state.

Quotable

“We are excited to put down roots in North Carolina, providing cutting-edge capabilities to support our customers in the region,” said Dave Lerman, said family member and chair of Steel Warehouse. “We view this as an attractive place to invest for the long term.”

A performance-based grant of $120,000 from the One North Carolina Fund will help Steel Warehouse of North Carolina LLC establish its new operations. The One NC Fund provides financial assistance to local governments to help attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require matching participation from local governments and any award is contingent upon that condition being met.