Metals recycling and steelmaking firm Commercial Metals Co. (CMC) has announced plans to invest $12 million to relocate and expand its steel rebar manufacturing operations in Fredericksburg, Virginia.
Virginia Gov. Terry McAuliffe said of the decision, “My top priority as governor is to create a new Virginia economy, and Commercial Metals Co.’s investment in the Fredericksburg region is another step forward in this goal. Virginia is proud to retain a valued employer and corporate partner like CMC, and King George County’s manufacturing site with rail service meets the company’s current growth needs and provides capacity for future expansion.”
The Virginia Economic Development Partnership worked with King George County and the Fredericksburg Regional Alliance on the project. The company is eligible for rail access funding from the Virginia Department of Rail and Public Transportation. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
According to the Journal Press of Fredericksburg, approximately 4,200 feet of railroad track will be added near the facility. The rail project will extend the existing rail line serving a portion of the industrial park by CSX, estimated at $800,000. The county agreed to provide up to $150,000 toward the rail line improvements.
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