CHARLESTON — The West Virginia Economic Development Authority (EDA) has approved $75 million in financial incentives for Nucor Corporation to acquire additional property at its Apple Grove site. The site, already under construction, will host Nucor’s electric arc furnace facility for manufacturing steel products.
In addition to expanding its presence at Apple Grove, Nucor plans to construct a barge loading facility for scrap metal near Wheeling. These developments come as part of a larger agreement requiring Nucor to invest at least $50 million privately and create 100 additional jobs, increasing the total projected employment to 900 after the facility’s anticipated opening in 2026.
This latest funding brings the state’s total investment in the project to $390 million, nearing the $400 million maximum authorized by Governor Jim Justice’s administration. The state’s contributions include $315 million in matching funds for Nucor, contingent on the company fulfilling its private investment commitments. This represents the largest incentive package ever offered by West Virginia for a single project.
The decision has faced criticism, particularly from Democratic House Minority Leader Mike Pushkin, who questioned the allocation of taxpayer funds to a corporation with substantial financial resources. Pushkin argued that the deal raises concerns about its impact on public employees and retirees, suggesting the return on investment for taxpayers may not justify the expenditure.
The EDA board, which approved the funding, includes Chairman Larry Pack (Treasurer-Elect), Director and Vice Chairman Curtis Brent Wilmoth, Ex Officio members Eric Nelson and Clay Riley, and Directors Riley Moore, Jonathan “Eric” Hall, and Doug Ritchie among others. Kris Warner (the Secretary of State-Elect) serves as the agency’s Executive Director.
Despite the pushback, the EDA’s decision underscores the state’s commitment to securing economic development opportunities and creating new jobs, though the debate over the cost and benefits of such incentives continues.
