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India's JSW Group Adding 500 New Jobs to Texas Economy

The steel plant located in Baytown, TX will employ 500 people and the average salary will be $65,000 per employee. Perhaps this will encourage more American owned companies to bring more jobs to local economies and provide jobs for Americans.

March 28, 2018 | Jim Palmer | BuyDirectUSA.com

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Baytown Texas, is excited with the news that India's JSW Group is adding 500 New jobs to the local steel plant. Even more exciting to the area residents is that the average pay is expected to be around $65.00 per employee. This will certainly help boost the local economy and help bring steel production back to the US.

JSW Group spokesperson Sajjan Jindal announced on Monday March 26th, that they were planning on putting $500 million into the Baytown steel plant over the next two years.

Texas Governor Greg Abbott said "one goal of the United States as well as Texas is that we once again get back in the process of being able to manufacture our own steel products for our own use."

This is something that we have been saying for years. The United States needs a strong manufacturing base to remain a world leader and to produce wealth in the United States and provide jobs for Americans. At the same time, we should not be so reliable on outside sources for so many of our goods.

This project would not have been possible without the help of The Texas Enterprise Fund which awarded JSW a grant of 3.4 million with a contingency that the funds would have to be paid back if the project does not get off the ground.  According to Wikipedia, "The Texas Enterprise Fund is a business incentive fund that was created by legislation in 2003. The fund, which had an initial $295 million investment, is used for ensuring the growth of business in Texas. One of Texas' most competitive recruitment tools, these funds are used primarily to attract new business to the state or assist with the substantial expansion of an existing business as part of a competitive recruitment situation."

We are excited for the workers in Baytown, Texas, however even with all of this excitement, we have found that most Americans prefer that this type of growth comes from American owned companies. The reasoning behind this vary but from what we have seen is that most Americans feel that their tax dollars should first be invested in American companies because the majority of the profits stay in the US and are continually reinvested here.

 


Tags:   Jobs & Economy    Steel    Jobs    Employment    Baytown    Texas
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