Nucor Corp. will build a rebar micromill in Frostproof, Fla., which is located in Polk County. The facility, a $240 million investment, is expected to employ approximately 250 people and pay an average annual salary of $66,000. The micromill will have an estimated annual capacity of 350,000 tons. Construction is expected to take two years, pending permit and regulatory approvals.

This is the second rebar micromill Nucor is building. In November 2017, the company announced a rebar micromill project in Sedalia, Mo. According to Nucor, the Florida micromill will give it a cost advantage over competitors that are shipping rebar into the region from long distances.