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<br />STATEMENT FOR THE 2007 PROJECT <br />FOR TAX ABATEMENT <br />The project involves an investment in new manufacturing, servicing and processing <br />equipment, that will increase Petitioner's production capacity in the production of profiling parts. <br />The project is expected to create from four to twelve new full time jobs with an annual payroll <br />increase in the range of $130,400; and is expected to help Petitioner to retain its 446 existing full time <br />jobs, with salaries of approximately $31,200 per year. <br />Petitioner is a steel service center with a primary focus on flat rolled, low carbon steel. Its <br />operations involve slitting, leveling, pickling, shearing, temper rolling, and cold reducing and <br />production of profiling parts through plasma and laser cutting. The proposed project will allow <br />Petitioner to expand its plasma and laser cutting operations to meet the growing market for such <br />products. <br />4 <br />