The company will bring 50 jobs to the facility within the next three years to the facility at 6797 Fronius Dr.
"We will hire local people. That's what it is all about. We want to be involved in the community," said Eduard Peinhopf, managing director of Voestalpine.
The City Council approved the abatement for the company, which is headquartered in Austria but has operations across the globe.
"Voestalpine Corp. is a leading partner to the European automotive and consumer goods industries and the oil and gas industries worldwide as well as a world market leader in turnout technology, special rails, tool steel and special steels. The corporation employees more than 50.000 people globally and generate yearly revenues of more than $12 billion," said Andy Maletta, Portage's economic development director.
The total investment in the Portage facility will be about $13.5 million, of which about $12.85 million will be for machinery and equipment. They received a personal property tax abatement on the machinery and equipment.
The company will produce welding consumables, including low and high alloyed welding wires and rods, for key industries such as the automotive industry at the Portage facility, said Maletta.
They anticipate employment of 25 skilled workers by the end of 2018 and 50 within the next three years. The average hourly wage will be $18.68 plus an additional $4 per hour in benefits. They anticipate salaried employees to average about $55,000 annually.
They will be working with Indiana Career Connect and the Center of Workforce Innovation to assist with hiring as well as advertising the positions.