March 25, 2011

State of Alabama
Press Release: Alabama Department of Commerce

ThyssenKrupp: Alabama Project Paying Dividends for State

ThyssenKrupp, a major player in the global steel business, says its Alabama project is paying dividends for the state.
ThyssenKrupp says Alabama's investment in the German company's steel plant near Mobile has begun yielding substantial dividends. The state cobbled together an incentives package worth an estimated $811 million to help land ThyssenKrupp's $5 billion plant.

"The first three years of the project generated jobs, growth and business for Alabama companies," the company said in a release today.  "Now that we're operational, this will continue for generations to come."

ThyssenKrupp said it has:

*  Hired 1,900 people since 2007, 80 percent of them from Alabama, and paid them $100 million in wages
*  Created 9,000 construction jobs

*  Spent $800 million with Alabama companies

*  Generated $34 million in state tax revenue

The company said it plans to hire another 800 workers for the steel plant.

"ThyssenKrupp's $5 billion investment will be paying dividends to our state and community for many generations to come," the company's release said.

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