Governor Kasich was in Lorain recently to join Republic Steel in announcing the creation of nearly 450 new jobs. The Plain Dealer has more below:
LORAIN, Ohio — Republic Steel plans to invest $85.2 million and create 450 jobs here, three years after shutting its blast furnace and cutting 700 jobs.
An expected boom in the oil and gas industry, coupled with a rebound in the auto industry, is feeding a mini-resurgence in Northeast Ohio’s steel industry with Republic, U.S. Steel, Timken Co. and V&M Star all making major investments.
With Gov. John Kasich standing at his side, Republic President and Chief Executive Jaime Vigil, said, “It was easy to choose Lorain, Ohio, over other locations in the United States and other parts of the world.”
Oil and gas companies are rushing to Ohio, West Virginia and Pennsylvania to try to tap shale gas – natural gas trapped in shale. Energy companies pump high-pressure fluid into wells to break up the shale, releasing the gas – a process called hydraulic fracturing or fracking.
Kasich, who hosted an energy summit in September to encourage the growth of Ohio’s natural gas industry, said shale exploration is creating opportunities for lots of different industries.
With the development of shale natural gas, Kasich told Vigil that Republic’s role in the steel industry is going to change.