REYNOLDS, Ind. (WLFI) - You can already see the work of a $350 million investment in Reynolds.
Construction on the Magnetation plant began in April. On Tuesday state leaders, including Lieutenant Governor Sue Ellspermann, and CEOs gathered for the official ground breaking ceremony.
"Maybe we'll call it jobs town USA for all the good jobs that are coming to Reynolds," Ellspermann said.
Of the 115 jobs coming to the site, 30 have been filled. Magnetation CEO Larry Lehtinen said the Minnesota-based company makes iron ore concentrate.
The Reynolds plant will be the first in the company to make iron ore pellets.
"It will be a world class facility," Lehtinen said. "[It will be] the latest, greatest facility of its type in the world."
"I'm very excited to see how this technology works," Ellspermann said. " [They're] taking those iron ore tailings, the waste material they get from mining, and creating a high value pellet to be used in steel production."
The pellets will provide half of the materials needed for the AK Steel Corporation, which has seven steel plants in the Midwest, including one about 30 miles east of Evansville.
Ellspermann said the relationship between Magnetation and AK Steel will help make Indiana a steel leader.
"We want a strong steel industry to provide those automobiles, and all the growth this country needs," Ellspermann said.
The investment is the largest in White County's history.
Lehtinen said after searching the country for a spot for the plant the logistics of the Reynolds site made the most sense.
"There is the confluence intersection of the two railroad lines here," Lehtinen said. "The Toledo, Peoria, and Witchita Railroad, the TPW Railroad, and the CSX Railroad line."
Mangnetation construction is on schedule to open at the end of 2014.
You can find job listings on Magnetation's website.
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