Some deals take months, even years, to put together.

The $100 million expansion announced Thursday by Steel Dynamics took considerably less time.

“Normally, when these types of projects are being planned, it takes six or eight months to put together,” Gov. Phil Bryant said during a brief ceremony at the Steel Dynamics plant at the Golden Triangle Industrial Park. “Two weeks ago, I got the call and the word was, ‘Let’s make this happen.’ And here we are today, announcing a major expansion. That’s pretty impressive.”

Thursday’s announcement comes just eight months after the Indiana-based company purchased the Lowndes County facility from Severstal, which opened the plant in 2004.

The expansion will focus on building a new paint facility and expanding its Galvalume production. Galvalume, a zinc/aluminum alloy coating, is used primarily in the roofing industry. The paint facility will allow the company to make production-ready steel for appliance and other manufacturing, expanding the company’s base to reach new customers.

“As a company, we are always looking for opportunities to reinvest in our facilities and expand our reach new markets,” said Richard Teets Jr., COO of Steel Dynamics’ steel operations. “This expansion not only extends our reach into the southeast United States and Mexico, it also diversifies our product line.”

The project will result in an economic investment of $100 million and will create 40 jobs. Steel Dynamics currently employs approximately 630 people.

The Mississippi Development Authority, the Appalachian Regional Commission, the Tennessee Valley Authority and Lowndes County Board of Supervisors provided assistance in support of the project for infrastructure improvements, rail construction and workforce training.

Teets said the incentive package offered by state and local officials was a decisive factor in the expansion.

Backing the company’s $100 million investment, state and local entities put up $2.85 million in grants, along with a $1 million commitment from Lowndes County, which will be used to extend rail service to the site. Supervisors met Thursday to approve securing the $1 million loan from the MDA, which will charge one percent annual interest.

Golden Triangle Development LINK CEO Joe Max Higgins said a fee-in-lieu agreement between the county and Steel Dynamics agreed to Thursday will pay the county’s school district roughly $225,000 annually, while returning $65,000 annually to the county over the life of the 10-year loan.

Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States, based on estimated annual steelmaking and metals recycling capability, with annual sales of $8.8 billion in 2014, more than 7,700 employees, and manufacturing facilities that include six steel mills, eight steel coating facilities, two iron production facilities, over 90 metals recycling locations and six steel fabrication plants.

Slim Smith is a columnist and feature writer for The Dispatch. His email address is [email protected].