A manufacturer of steel joists has hired 58 employee at its Hope, Ark., plant and plans to hire up to 120 if demand increases, according to a statement issued Monday (Oct. 24) by the Arkansas Economic Development Commission.
New Millennium Building Systems, a subsidiary of Steel Dynamics, held a ribbon cutting ceremony Monday to celebrate the start of production in Hope. In addition to the purchase price, New Millennium has installed an additional $4 million of new equipment into the plant formerly occupied by the Commercial Metals Company. New Millennium will manufacture steel joists at the Hope facility.
“We look forward to becoming a productive part of the Hope community,” Chris Graham, general manager of New Millennium’s Hope facility, said in a statement. “We’ve been welcomed with open arms. We’ll strive to be a positive part our employees’ lives and of our community for years to come.”
The purchase of the Hope plant facilitates New Millennium’s plans to expand its presence in construction markets in the Southwest and the West.
This is New Millennium’s first facility in Arkansas. At full production, the facility is projected to generate more than $8 million in annual payroll when fully staffed.
“Arkansas will not cede manufacturing to any part of the world, we want to keep it in America and keep it here in our state,” Gov. Mike Beebe said. “The arrival of New Millennium in Hope brings good jobs in tough economic times, and breathes new life into existing infrastructure. It’s a good formula for success all around.”
Founded in 1999 in Butler, Ind., New Millennium announced in September 2010 the acquisition of manufacturing and office facilities in Hope; Fallon, Nev.; and Juarez, Mexico. By investing in a range of efficiency and capacity upgrades for the acquisitions, New Millennium has become the second largest provider of steel joists and metal decking to the nationwide U.S. market.