Riverside has acquired a $6.9 million investment in its community that will bring in 51 new jobs in the next three years with the announcement of a new industrial employer.

Nufab Rebar LLC announced its plans to build a new facility during Tuesday’s council meeting. The company is a fabricator of concrete reinforcing steel and related products.

The company plans to invest in the facility on their site just off the I-20 exit. In addition to the new employees, Nufab expects growth to a potential of more than 80 employees over the next five years, which will make them the largest employer in Riverside.

Mayor Rusty Jessup called the announcement “a monumental occasion for our community. Not only is this company creating jobs in our city, it is also creating additional potential for growth. The county and the EDC have walked alongside us in the recruitment process, and we feel that the decision to commit to this project agreement along with the accrual of the $1 million Industrial Access Grant, which is the largest amount of grant money ever received by this community, will move us toward our future.”

Because of the new jobs, the City of Riverside was granted a $1 million Industrial Access Grant from the Alabama Industrial Access Road and Bridge Program for infrastructure improvements, which give the company access to the adjacent railroad.

Grants for sewer improvements have been applied for and could indirectly provide new commercial opportunities for Riverside along its interstate exit.

“All of us at Nufab Rebar are very excited to be building our new facility in the City of Riverside,” said Dennis Swinney, of Nufab Rebar. “We will be investing in excess of $5 million dollars to construct a fabrication facility that will create over 80 new jobs. The new facility will fabricate rebar for use in reinforced concrete construction projects throughout Alabama and its surrounding states. We have worked very closely with Riverside Mayor Jessup, the Economic Development Council, St. Clair County officials and other city staff, and appreciate the assistance and support that they have provided for this project. We look forward to getting underway with construction on the project this spring.”

Part of the agreement includes a ten-year city tax abatement. Because of the abatement, Nufab was able to draw more from its $6.9 million investment, including a greater investment for both Nufab and a greater number of jobs in the area, said Don Smith, Executive Director of the St. Clair County Economic Development Council.

Education taxes will still be collected. The undeveloped location was previously collecting $300 a year in property tax.

Smith said Riverside will be collecting a significantly larger educational tax and help get new sales tax because of new jobs and activity taking place; including the ability to apply for grants for public infrastructure that will help the community grow in the future with very little cost from the local community.

“When a world-class organization comes into your community it brings a lot more than just jobs and taxes. This project will enable our town to extend its sewer system and greatly improve our roads and other infastructure,” Mayor Jessup said.

The project has been in the works for some time now and the announcement is one of many large projects St. Clair has acquired  in recent years.

“The company has been very patient and has been very incredible to work with as we’ve gone through this process with Riverside, who have been a great partner as well as the county commission,” Smith said. “The St. Clair County EDC could not do our job without the strong partners and over the last 14 months of working on this project I am extremely impressed with the leadership and spirit of cooperation shown by Nufab Rebar, the City of Riverside, and the County Commission. Without all of them none of this would have been possible.”

“This project will have an immediate job impact for St. Clair County, but it is also a catalyst for future development in the City of Riverside,” County Commissioner Jimmy Roberts said. “The County Commission has always supported our municipalities’ efforts in attracting new investment and quality jobs from companies like Nufab Rebar into our community. We are happy to be part of this project as well.”

In August 2008, Nufab Rebar LLC was acquired by Harris Steel Inc., a wholly owned subsidiary of Nucor Corporation. They hold themselves out to be a people-oriented company with a strong teamwork approach to business. Since the company’s inception in 2005, they have grown to 10 southern U.S. locations that are headquartered in Auburn, Indiana.