Nucor plans to invest $240 million to build a 350,000-ton-a-year rebar micro mill in Frostproof, Florida. It will employ 250 people at an average of $66,000 a year when construction is completed in two years. "Nucor has always focused on growing our business to better serve our customers," President and CEO John Ferriola said. "We are building this rebar micro mill in a great and growing market where demand is strong and there is currently an abundant supply of scrap, a good portion of which is handled by our scrap business, The David J. Joseph Company. Consistent with our planned strategy of being a low-cost producer, this micro mill will give us a cost advantage over our competitors who are shipping rebar into the region from long distances."