State Treasurer Riley Moore today hailed the announcement by Cleveland-Cliffs Inc. that they will invest $150 million to repurpose the company’s idled Weirton tinplate mill into a new electric distribution transformer production plant, resulting in re-employment opportunities for 600 union workers in the region.
“I am absolutely thrilled Cleveland-Cliffs has decided to repurpose the Weirton site and bring back 600 highly skilled, great-paying union jobs to the region,” Treasurer Moore said.
Last month, Treasurer Moore joined legislative leaders on a trip to the company’s headquarters in Cleveland, Ohio, to make the case for repurposing the Weirton site. Earlier today, as a member of the state Economic Development Authority, Treasurer Moore voted to provide a $50 million forgivable loan package to aid in the investment.
“I was proud to join House Speaker Roger Hanshaw, Delegate Pat McGeehan and House Finance Committee Chairman Vernon Criss to personally work with the company and offer our state’s support for this project,” Treasurer Moore said. “For too long, workers in the Ohio River Valley have seen their jobs shipped overseas as part of bad trade deals negotiated by globalist politicians. Now it’s time to bring those jobs home, and this demonstrates West Virginia is ready to lead the way in restoring American greatness.”
Cleveland-Cliffs' Chairman, President and CEO Lourenco Goncalves said in the company’s announcement that these distribution transformers are critical to the maintenance and expansion of America’s electric grid and are also in short supply – a problem that could be exacerbated by the increased electricity demands needed to power the growing adoption of artificial intelligence technologies.
“This Weirton plant will be critical for securing of our nation’s electric grid and ensuring the American economy can beat out rivals, like China, in the adoption and integration of innovative technologies,” Treasurer Moore said. “West Virginia’s skilled laborers and energy workers built and powered our nation’s growth in the 20th century, and with investments like the one Cleveland-Cliffs is announcing today, West Virginians will once again be building and powering a revived 21st century American economy that will make our country great for generations to come.”