Steel Warehouse is a manufacturer of steel products. The company will construct a 50,000 sq. ft. roll steel manufacturing building in Rock Island on 20 acres. The company receives coil steel by rail and cuts and bends it into products that are sold to major manufacturers. The total project is $10 mil and will create 50 new jobs. Steel Warehouse was established in 1947, and is a steel service center. The company is owned by the Lerman family which also owns two other steel centers and tube manufacturing companies. Annual sales for Steel Warehouse are in excess of $130 million. The company has 400 employees. QCREDA issued a bond for $5.6 million for the construction of a new facility in Rock Island.