Jamestown, ND (KCSi-T.V. News) — The Jamestown/Stutsman Development Corporation (JSDC) Board of Directors has reached an agreement with Ambassador Steel Corporation headquartered in Auburn, Indiana, to purchase a lot from the JSDC, in the industrial park near Cavendish Farms.
Ambassador Steel fabricates rebar for use in construction projects, having supplied steel products for a variety of construction projects across North Dakota.
Its planned location is next to land purchased by Koste Materials which is planning to build a cement ready mix plant.
Ambassador Steel is buying the land for $7,500 per acre.
JSDC, CEO Connie Ova says JSDC has approximately $10,000 per acre invested in the land,
The company is also asking for the JSDC to fund at least part of a road necessary to reach the lot.
Ambassador Steel plans to start construction in the spring of 2014.
Total project financing is estimated at $1.2 million.
The company could initially employ four to six people and eventually employee as many as 10 workers when the plant reaches full operations.
