Board Summary New Millennium Building Systems 8200 Woolery Way, Fallon, NV 89406

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1 Board Summary New Millennium Building Systems 8200 Woolery Way, Fallon, NV Date: September 17, 2015 Main Location: Las Vegas Jennifer McCoy, Controller Manufacturing Business Type: Expansion County: Churchill County Development Authority Representative: Danny Campos - NNDA APPLICATION HIGHLIGHTS - New Millennium Building Systems is applying for Sales Tax, Modified Business Tax, and Personal Property Tax abatements. - Meets statute for job creation, average wage and capital investment levels. - Existing 168 employees employees at an average hourly wage of $18.69 prior to expansion plans. - Company plans to add 27 new employees over the next 10 years. PROFILE New Millennium is a division of Steel Dynamics, one of the largest steel producers in America. The company was formed in 1999, built on the foundational values of proactive engineering and manufacturing flexibility. They are the second largest provider of steel joists and metal decking to the U.S. market. Their dynamic manufacturing facilities are strategically located across North America to service your steel joist, steel decking, and Joist Girder supply needs. Source: New Millennium Building Systems SIGNIFICANCE OF ABATEMENTS IN THE COMPANY'S DECISION TO RELOCATE/EXPAND The possibility of economic incentives is one of the key factors in the company's ability to expand. New Millennium employs all skills levels from professionals in accounting and engineering, to sales, IT, and production. With the expansion the company plans on hiring 17 new employees from within Nevada. These positions will be for the support of a fourth crew in the production facility. Source: New Millennium Building Systems REQUIREMENTS Statutory Application Sufficient % Over / Under Job Creation Yes 1% Average Wage $19.42 $29.28 Yes 51% Equipment CapEx (SU & MBT) $301,062 $3,891,509 Yes 1193% Equipment CapEx (PP) $301,062 $3,891,509 Yes 1193% INCENTIVES Requested Terms Estimated $ Amount Sales Tax Abmt. Abated to 2% $217,900 Modified Business Tax Abmt. 50% for 4 years $19,900 Personal Property Tax Abmt. 50% for 10 years $148,700 Total $386,500 JOB CREATION Contracted 24-Month Projection 5-Year Projection OTHER CAPITAL INVESTMENT Land Building Purchase BTS / Building Improvements $0 $0 $0 ECONOMIC IMPACT ESTIMATES (10-Year Cumulative) Total Total Jobs Supported Total Payroll Supported $22,849,416 $14,619,608 Total Output Estimate $89,168,160 $67,152,434 Estimate includes jobs, payroll & output by the company assisted as well as the secondary impacts to other local businesses. NEW TAX REVENUE ESTIMATES (10-Year Cumulative) Direct Indirect Total Local Taxes Property $141,600 $684,500 $826,100 Sales $0 $349,900 $349,900 Lodging $0 $9,800 $9,800 State Taxes Property $7,000 $67,100 $74,100 Sales $77,800 $141,700 $219,500 Modified Business $140,400 $110,300 $250,700 Lodging $0 $400 $400 Total $366,800 $1,363,700 $1,730,500 COST-BENEFIT ASSESSMENT Economic Impact per Abated Dollar New Total Tax per Abated Dollar $231 $4.48 EMPLOYEE BENEFITS - Percentage of health insurance covered by company: 70%. - Health care package cost per employee - $9,525 annually with options for dependents. - Overtime, PTO/Sick/Vacation, Bonus, Retirement Plan, Merit, Tuition Assistance, ESPP. NOTES - Percentage of market outside of Nevada: 92%. - Company average hourly wage is significantly higher than the county average hourly wage of $19.42.

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6 Incentive Application Company Name: New Millennium Building Systems Date of Application: August 3, 2015 Company is an / a: (check one) New location in Nevada Expansion of a Nevada company Startup business in Nevada Section 1 - Type of Incentives Please check all that the company is applying for on this application: Sales & Use Tax Abatement Modified Business Tax Abatement Personal Property Tax Abatement 1 The EDRR and TEN programs required pre-approval authorization prior to application, are subject to program funding limitations, and may not be available for all applicants. 2 The transferable tax credit program requires a minimum investment of $3.5 billion over a ten-year period. Section 2 - Corporate Information Sales & Use Tax Deferral COMPANY NAME (Legal name under which business will be transacted in Nevada) New Millennium Building Systems CORPORATE ADDRESS 8200 Woolery Way MAILING ADDRESS TO RECEIVE DOCUMENTS (If different from above) Recycling Real Property Tax Abatement Economic Development Rate Rider (EDRR) 1 CITY / TOWN Fallon Transferable Tax Credits 2 Train Employees Now (TEN) 1 Other FEDERAL TAX ID # STATE / PROVINCE ZIP Nevada CITY / TOWN STATE / PROVINCE ZIP TELEPHONE NUMBER COMPANY CONTACT NAME Jennifer McCoy ADDRESS jennifer.mccoy@newmill.com WEBSITE COMPANY CONTACT TITLE Controller PREFERRED PHONE NUMBER Has your company ever applied and been approved for incentives available by the Governor's Office of Economic Development? If Yes, list the program awarded, date of approval, and status of the accounts (attach separate sheet if necessary): Yes No Section 3 - Nevada Facility Type of Facility: Headquarters Technology Back Office Operations Research & Development / Intellectual Property Service Provider Distribution / Warehouse / Logistic Manufacturing Other: PERCENT OF COMPANY'S MARKET OUTSIDE OF NEVADA 92%, based on prior year of operation NAICS CODE / SIC EXPECTED DATE OF NEW / EXPANDED OPERATIONS (MONTH / YEAR) Aug-2015 INDUSTRY TYPE Manufacturing DESCRIPTION OF COMPANY'S NEVADA OPERATIONS New Millennium Building Systems manufactures steel joists for commercial and private buildings in the region. A majority of jobs are manufacturing, with support office positions also located in Fallon and Reno. PROPOSED / ACTUAL NEVADA FACILITY ADDRESS 8200 Woolery Way CITY / TOWN COUNTY ZIP Fallon Churchill County WHAT OTHER STATES / REGIONS / CITIES ARE BEING CONSIDERED FOR YOUR COMPANY'S RELOCATION / EXPANSION / STARTUP? N/A 1

7 Section 4 - Real Estate & Construction (Fill in either New Operations/Startup or Expansion, not both.) NEW OPERATIONS / STARTUP - PLANS OVER THE NEXT 10 YEARS EXPANSIONS - PLANS OVER THE NEXT 10 YEARS Part 1. ARE YOU CURRENTLY / PLANNING ON LEASING SPACE IN NV? If No, skip to Part 2. If Yes, continue below: What year(s)? How much space (sq. ft.)? Annual lease cost of space: Do you plan on making building tenant improvements? If No, skip to Part 2. If Yes *, continue below: When to make improvements (month, year)? Part 2. ARE YOU CURRENTLY / PLANNING ON BUYING AN OWNER-OCCUPIED FACILITY IN NV? If No, skip to Part 3. If Yes *, continue below: Purchase date, if buying (month, year): How much space (sq. ft.)? Do you plan on making building improvements? If No, skip to Part 3. If Yes *, continue below: When to make improvements (month, year)? Part 3. ARE YOU CURRENTLY / PLANNING ON BUILDING A BUILD-TO-SUIT FACILITY IN NV? If Yes *, continue below: When to break ground, if building (month, year)? Estimated completion date, if building (month, year): How much space (sq. ft.)? Part 1. ARE YOU CURRENTLY LEASING SPACE IN NV? If No, skip to Part 2. If Yes, continue below: What year(s)? How much space (sq. ft.)? Annual lease cost at current space: Due to expansion, will you lease additional space? If No, skip to Part 3. If Yes, continue below: Expanding at the current facility or a new facility? What year(s)? How much expanded space (sq. ft.)? Annual lease cost of expanded space: Do you plan on making building tenant improvements? If No, skip to Part 3. If Yes *, continue below: When to make improvements (month, year)? Part 2. ARE YOU CURRENTLY OPERATING AT AN OWNER-OCCUPIED BUILDING IN NV? Yes If No, skip to Part 3. If Yes, continue below: How much space (sq. ft.)? 160,600 Current assessed value of real property? $386, Due to expansion, will you be making building improvements? No If No, skip to Part 3. If Yes *, continue below: When to make improvements (month, year)? Part 3. DO YOU PLAN ON BUILDING OR BUYING A NEW FACILITY IN NV? If Yes *, continue below: Purchase date, if buying (month, year): When to break ground, if building (month, year)? Estimated completion date, if building (month, year): How much space (sq. ft.)? * Please complete Section 5 - Capital Investment for New Operations / Startup. * Please complete Section 5 - Capital Investment for Expansions below. BRIEF DESCRIPTION OF CONSTRUCTION PROJECT AND ITS PROJECTED IMPACT ON THE LOCAL ECONOMY (Attach a separate sheet if necessary): Section 5 - Capital Investment (Fill in either New Operations/Startup or Expansion, not both.) NEW OPERATIONS / STARTUP EXPANSIONS HOW MUCH CAPITAL INVESTMENT IS PLANNED? (Breakout below): HOW MUCH CAPITAL INVESTMENT IS PLANNED? (Breakout below): Building Purchase (if buying): Building Costs (if building / making improvements): Land: Equipment Cost: Total: Building Purchase (if buying): Building Costs (if building / making improvements): Land: Equipment Cost: Total: $3,891,509 $3,891,509 Is the equipment purchase for replacement of existing equipment? No Current assessed value of personal property in NV: $1,505,310 (Must attach the most recent assessment from the County Assessor's Office.) 2

8 Section 6 - Employment (Fill in either New Operations/Startup or Expansion, not both.) NEW OPERATIONS / STARTUP EXPANSIONS How many full-time equivalent (FTE*) employees will be created by the How many full-time equivalent (FTE*) employees will be created by the end of the first fourth quarter of new operations?: end of the first fourth quarter of expanded operations?: 17 Average hourly wage of these new employees: Average hourly wage of these new employees: $29.28 How many FTE employees prior to expansion?: Average hourly wage of these existing employees: Total number of employees after expansion: 168 $ * FTE represents a permanent employee who works an average of 30 hours per week or more, is eligible for health care coverage, and whose position is a "primary job" as set forth in NAC OTHER COMPENSATION (Check all that apply): Overtime PTO / Sick / Vacation Bonus Retirement Plan / Profit Sharing / 401(k) Merit increases COLA adjustments Tuition assistance Other: ESPP BRIEF DESCRIPTION OF ADDITIONAL COMPENSATION PROGRAMS AND ELIGIBILITY REQUIREMENTS (Attach a separate sheet if necessary): All employees are eligible. New Millennium contributes $1 for every $10 an employee spends to purchase company stock. Section 7 - Employee Health Insurance Benefit Program Is health insurance for employees and an option for dependents offered?: Package includes (check all that apply): Medical Vision Dental Qualified after (check one): Yes (copy of benefit plan must be attached) Other: No Upon employment Three months after hire date Six months after hire date Other: 30 Days COST OF HEALTH INSURANCE FOR COMPANY (annual amount per employee): $9,525 HEALTH PLAN ANNUAL DEDUCTIBLE (individual): $500/$1500 (PPO vs HAS) Section 8 - Train Employees Now (TEN) (if applicable) PERCENTAGE OF HEALTH INSURANCE COVERAGE BY: Company: 70% Employee: 30% Have you received preapproval from GOED? Number of qualified employees to participate in training program*: Will these new hires be permanent, full-time employees of the company? Is the proposed training plan developed by NVIE complete?** Yes 20 Yes Yes No No No * Employee must be paid at least 80% of statewide average wage at conclusion of the program. ** Attach the NVIE training program to this application. Note: All workforce training monies approved at a scheduled GOED Board meeting will be granted to the appropriate educational institution. 3

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10 Employment Schedule Company Name: New Millennium Building Systems County: Churchill County Directions: Please complete columns (a) through (d) in Section 1 with information on all full time employees that will be hired and employed by the company by the end of the first fourth quarter of new / expanded operations. For example, if the effective date of new / expanded operations is April 1, 2015, the date would fall in Q2, The end of the first fourth quarter would be the last day of Q2, 2016 (i.e., June 30, 2016). Attach this form to the Incentives Application. Section 1 - Full-Time Equivalent (FTE) Employees Full-time equivalent represents an employee who works an average of 30 or more hours per week, is eligible for health care coverage, and whose position is a "primary job" (defined in NAC ). Audits of job creation and wage will be based on the information provided in this section. Production Design Engineer Detailer Designer Loading Crew Maintenance Reception (a) New Hire Position Title/Description (b) ( c ) (d) (e) (f) Average Average Annual Wage Hourly Wage Weekly Hours per Position Number of Positions Total Annual Wages 9 $ $70, $634,421 1 $ $58, $58,635 1 $ $40, $40,019 2 $ $35, $71,510 1 $ $64, $64,605 2 $ $70, $141,024 1 $ $24, $24,960 TOTAL 17 $29.28 $1,035,174

11 Directions: Please complete columns (a) through (b) in Section 2 with information on non full-time employees that will be hired and employed by the company by the end of the first fourth quarter of new / expanded operations. Section 2 - Part-Time/Seasonal/Temporary Employees (a) New Hire Position Title/Description (b) Number of Positions TOTAL Directions: In Section 3, please provide three- and five-year employment projections (additional jobs anticipated, if any, above the number reported in Section 1 and Section 2). Section 3 - Employment Projections Full-Time Equivalent Employment Part-Time/Seasonal/Temporary Employees 3-Year Projection: Year Projection: 5-Year Projection: Year Projection:

12 Equipment List Company Name: New Millennium Building Systems County: Churchill County Directions: Please provide a list of the equipment [columns (a) through (c)] which the company intends to purchase over the two-year allowable period. For example, if the effective date of new / expanded operations begins April 1, 2015, the two-year period would be until March 31, Note: If approved, the company will monitor and update this list as needed to ensure the incentives granted are for eligible property actually purchased. For guidelines on classifying equipment, visit: tax.nv.gov/localgovt/policypub/archivefiles/personal_property_manuals. Attach this form to the Incentives Application. (a) ( b) (c) (d) Equipment Name/Description # of Units Price per Unit Total Cost 5 Ton Mag Crane 1 $169, $169, Angle Fab Refurbish 1 $90, $90, Boom Lift 1 $19, $19, Pirannah 1 $17, $17, Forklift 1 $125, $125, Slitter 1 $1,500, $1,500, Servers (1 Reno, 2 Fallon) 3 $6, $18, Computers 6 $1, $7, Monitors 12 $ $5, Desks 6 $ $1, File Cabinets 6 $ $ Bookshelves 6 $75.00 $ Varidesk 15 $ $5, Phones 8 $ $1, SAN Storage 1 $20, $20, Network Switches (Cisco) 3 $4, $13, Woodnailer Line 1 $120, $120, Channel Former 1 $1,600, $1,600, JIB Crane 2 $75, $150, Stand up drill press 1 $25, $25, Yard welder 1 $2, $2, TOTAL EQUIPMENT COST $3,891,509.00

13 Site Selection Factors Company Name: New Millennium Building Systems County: Churchill County Directions: Please rate the select factors by importance to the company's business (1 = very low; 5 = very high). Attach this form to the Incentives Application. Availability of qualified workforce: 4 Transportation infrastructure: 4 Labor costs: 2 Transportation costs: 3 Real estate availability: 1 State and local tax structure: 5 Real estate costs: 2 State and local incentives: 4 Utility infrastructure: 3 Business permitting & regulatory structure: 3 Utility costs: 2 Access to higher education resources: 2 OTHER FACTORS & RATINGS:

14 Evaluation of Health Plans Offered by Companies Company Name: New Millennium Building Systems County: Churchill County Total Number of Full-Time Employees: 17 Average Hourly Wage per Employee $29.28 Average Annual Wage per Employee (implied) $60, Annual Cost of Health Insurance per Employee $9, Percentage of Cost Covered by: Company 70% Employee 30% Health Plan Annual Deductible $500/$1500 (PPO vs HAS) Generalized Criteria for Essential Health Benefits (EHB) [following requirements outlined in the Affordable Care Act and US Code, including 42 USC Section Covered employee's premium not to exceed 9.5% of annual wage 6.7% MMQ Annual deductible (individual) not to exceed $2,000 $500/$1500 (PPO v NQ Minimum essential health benefits covered (Company offers PPO & HSA): (A) Ambulatory patient services (B) Emergency services (C) Hospitalization (D) Maternity and newborn care (E) Mental health/substance use disorder/behavioral health treatment (F) Prescription drugs (G) Rehabilitative and habilitative services and devices (H) Laboratory services (I) Preventive and wellness services and chronic disease management (J) Pediatric services, including oral and vision care

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16 Nevada Regional Project Assessment System - Project Summary For the Years: Jobs and Payroll New direct jobs created 27 New direct payroll $1,644,926 Average hourly wage for project $29.29 Industry average wage $25.42 Capital Investment Value of new construction $0 Value of new equipment purchases $3,891,509 Economic Impact* Total value economic impact $89,168,159 Total new jobs supported 45 Total new payroll supported $22,849,419 Household spending supported $19,513,813 Construction Impact Total value construction impact $0 Total new jobs supported 0 Total new payroll supported $0 New Tax Revenue (direct and indirect)* Local Taxes Property $826,050 Sales $349,907 Lodging Tax $9,804 Total Local Taxes $1,185,761 State Taxes Property $45,080 Sales $219,497 Lodging Tax $409 Modified Business Tax and Commerce Tax $250,652 Total State Taxes $515,637 * Includes jobs, payroll, output and tax revenues of companies assisted by the Nevada Development Authorities as well as secondary impacts at other local businesses. Report includes only impacts created in Additional impacts will be generated in future years. 14-Aug-15 1 of 1