Midwest Steel Supply Moving to Rogers
Thursday, April 13, 2017
by Matt M. Johnson
Midwest Steel Supply Inc. is moving its operations to Rogers in a $5.2 million expansion that will enable the company to double its space and hire 15 more workers.
Midwest currently leases about 27,500 square feet at 9151 International Parkway in New Hope, according to CoStar.
The company plans to build a 55,000-square-foot office and distribution facility in Rogers, according to a news release from the Minnesota Department of Employment and Economic Development. The company is making the move because Midwest is growing and needs more room.
The new jobs will be created over the next three years and pay wages averaging $16.95 an hour. Midwest currently employs 22 people, according to Rogers city documents.
Midwest Steel is a metal service center and distributor specializing in aluminum, stainless steel, steel and brass, as well as precision cutting of metal. It was founded in 1960. The company purchases metal products from suppliers around the world and distributes them in the U.S. market. Midwest’s customers are in the medical, aerospace, semiconductor, defense and automated packaging equipment industries.
DEED is supporting the project with a $255,828 grant from the Job Creation Fund. The company will receive the funding once it has met investment and job creation commitments. The Rogers Economic Development Authority approved a resolution on Feb. 28 supporting Midwest’s application for the funds.
The Job Creation Fund is a pay-for-performance program that provides funding to businesses after they meet certain criteria, including minimum requirements for job creation and private investments. Under the program, businesses must create at least 10 full-time jobs and invest at least $500,000 to be eligible for financial assistance.
Originally published in Finance and Commerce, April 6, 2017.