LEXINGTON, N.C. (WGHP) – The nation’s largest steel manufacturer is opening a facility in Davidson County that will bring 180 extremely high-paying jobs.

Charlotte-based Nucor Corporation will spend $350 million to build a plant in Lexington to manufacture steel and rebar, Gov. Roy Cooper announced Thursday.

North Carolina Gov. Roy Cooper (AP Photo/Bryan Anderson, File)

That’s good news, but the better news is that, although salaries for specific positions will vary, the average salary for all the new positions will be approximately $99,660. That’s more than double the current average wage in the county ($45,117), a release from the NC Department of Commerce said.

“Manufacturing is the heartbeat of North Carolina’s economy, thanks to our skilled workers and the workforce training systems that support them,” Cooper said in the release. “Nucor already calls North Carolina home, and their decision to expand here is great for our domestic supply chain that supports our fast-growing economy.” 

Nucor, which has a plant in Hertford County, has evolved from a company founded in 1905 by Oldsmobile creator Ransom E. Olds and manufactures a variety of steel and products such as bars, beams and plates, the release said.

Nucor Steel Lexington is expected to produce as much as 430,000 tons of rebar a year – all of it from recycled material. The company calls itself “North America’s largest recycler.”

Nucor President & Chief Executive Officer Leon Topalian (NUCOR)

Nucor is expected to grow the state’s economy by $1.2 billion, with Davidson County expecting more than $15 million to enter the market annually. The Department of Commerce’s Economic Investment Committee approved incentives that included a Job Development Investment Grant of just more than $3.335 million over a 12-year period.

“The corridor between Washington, DC, and Atlanta is one of the fastest-growing regions in our nation, and new federal spending for infrastructure will further increase demand for rebar in the region,” Nucor President & Chief Executive Officer Leon Topalian said in the release. “Nucor Steel Lexington will produce steel with nearly 100% recycled content, which means our new, modern infrastructure will be made with the cleanest sustainable steel available anywhere in the world.”

State Sen. Steve Jarvis (R-Lexington) praised the announcement and Nucor’s reputation. “This major capital investment, not to mention these new jobs, will bring many economic benefits to our community for years to come,” he said.