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updated: 4/2/2014 7:27 AM

NW Indiana factory site may lure Illinois company

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Associated Press

EAST CHICAGO, Ind. -- Officials in northwestern Indiana say a nearly $70 million project is planned at an abandoned factory site where a manufacturer might move operations from suburban Chicago.

East Chicago officials say several new industrial buildings are planned for the former Union Tank Car Co. property.

City attorney Joseph Allegretti tells The Times of Munster that Harvey, Ill.-based steel processor LB Steel is looking to move to the site and employ about 400 workers.

Mayor Anthony Copeland is proposing 75 percent of new property taxes from the redevelopment go toward paying project debt as long as the company employs at least 200 East Chicago residents.

Union Tank Car once employed more than 600 workers but the factory closed in 2008.

Other factory and warehouse space is also planned at the site.

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