Charter Steel, a division of Charter Manufacturing, is a leading American supplier and manufacturer of carbon and alloy steel bar, rod and wire products.  The project will expand its Cuyahoga Heights wire rod production facility, helping the company to stay competitive in the U.S. steel industry.  Specifically, the project will invest in the “Cut-to-Length” bar market to further diversify its business. 

Project Partners:  Chase, Ohio Community Development Finance Fund, Northeast Ohio Development Fund, Cleveland-Cuyahoga County Port Authority, State of Ohio, Cuyahoga County, Village of Cuyahoga Heights

Project Details

Completed Under construction – 2018 completion
Location 4300 E 49th Street, Cuyahoga Heights
Project Type Manufacturing; Machinery & equipment
Sponsor Charter Manufacturing Company, Inc.
CDA Investment $10 million NMTC allocation
Total Project Costs $153 million
Community Demographics Poverty Rate: 13.7%
Median Income: 78.71%
Unemployment Rate: 11.1%

Impact

  • Job Creation

    The project will create 25 FTE at the site within four years.

  • Diversity and Inclusion

    The project sponsor committed to construction participation goals for Minority, Female, and Cleveland Small Businesses (MBE/FBE/CSB) as well as minority, female and City of Cleveland resident workers.

  • Executed Community Benefits Agreement

    The project sponsor has committed to quantifiable community impacts by executing a Community Benefits Agreement.