After a short year here in Fayetteville, Nippon Steel plans to close at the end of March. The first U.S. plant brought hopes of 300 jobs and a commitment to invest $5.7 million. Along with an immediate loss of 65 jobs, the facility closure leaves a hole in the new industrial park.
“Nippon Steel’s decision is certainly disappointing. We’ve enjoyed a great relationship with the company and had hoped for them great success. Unfortunately, as they’ve explained to Elaine, their sales in the United States just weren’t where they needed to be for them to continue operations here.”
– Jack Marsh, Chairman of FLCIDB
Attention now turns to Nippon Steel’s lease agreement with the FLCIDB. Officials will be meeting with the company’s team in the coming weeks. Tennessee state officials will also be meeting with Nippon Steel representatives to talk through repayment of incentives provided to the company last year.
It’s still early in this one so stay tuned for more updates.