German steel giant ThyssenKrupp announced on May 11 that it will build a $3.7-billion combined flat-carbon and stainless-steel mill in Mount Vernon, Ala. It chose Alabama after the state offered an $811-million incentive package of tax breaks, cash payments, road building, employee training and land purchases. The Alabama State Port Authority also approved a new $115-million terminal on Pinto Island in Mobile Bay. The plant will process flat slabs produced in Brazil and have an annual production capacity of 4.1 million metric tons of flat steel and 1 million metric tons of stainless steel. ThyssenKrupp planned to invest $2.7 billion in the plant but increased the total due to the “high cost-efficiency” of the market and incentive packages.