7541-01 Request President - LTV Steel

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RESOLUTION NO. 7541-01 BY: Corrigan, FitzGerald, George, Roth, A RESOLUTION requesting the President of the United States and the United States Congress to take emergency actions and enact measures to respond to the crisis facing LTV Steel locally and the domestic steel industry nationally. These actions are intended to provide for a period in which the domestic industry can recover from the effects of an unprecedented flood of apparently illegally traded foreign steel, develop and implement restructuring plans to adjust to global competition and create a level playing field for future competition based on product quality, service and cost. WHEREAS, LTV Steel and its predecessor companies have been a vital part of the eeunomic landscape of Greater Cleveland and Ohio for generations and the continuing strength and prosperity of our local communities are inextricably tied to the success of the company; WHEREAS, the steel industry, important to the eonnnunity and regional economy, is now in jeopardy; WHEREAS, the recent filing by LTV Steel for Chapter 11 bankruptcy has brought home to northeast Ohio the plight of integrated steel manufacturers across the country; WHEREAS, the closing of LTV Steel would have a grave negative impact on both this City, the region and the State of Ohio, WHEREAS, LTV Steel's estimated total impact on Ohio's Gross State Product is over $2.0 billion and LTV employs approximately 114 Lakewood residents, 5,200 Cuyahoga residents, and 6,000 Ohioians; WHEREAS, an estimated 12,970 additional Cuyahoga County jobs and 27,020 mtditional jobs statewide are dependent on LTV operations and employees. These jobs fail into a wide range of industry sectors including manufactming~ constmctiun, transportation, public utilities and retail and wholesale trade, and generate over $I. 1 billion dollars in wages; WHEREAS, LTV Steel pays several million dollars in aunuai wages and salaries to Lakewood residents. Countywide LTV Steel pays $338 million dollars in annual wages and salaries and $68 million dollars in benefits to current employees in Cuyahoga County, which amounts to $406 million armuaily in compensation expenditures. Statewide LT~ Steel pays $430 ~nillion dollars in annual wages and salaries and approximately $85 million dollars in benefits to current employees, which represent a total compensation of over $.5 billion annually; WHERE~S, LTV Steel annually purchases $1 billion dollars in goods and services from 1,600 Ohio companies and the nation's auto, truck and related parts manufacturers depend on LTV for approximately 14% of the steel u~ed in their operations; WHEREAS, local charitable contributions in Greater Cleveland from LTV and its employees totaled over $1.9 million in the year 2000; WHEREAS, it is vitally important to the citizens of the City of Lakewood, to the City's economy and to steelworkers' livelihoods to help LTV Steel maintain a viable presence in Cleveland as an integrated steel producer; WHEREAS, along with the City of Lakewood, the Cuyahoga County Commissioners, the City of Cleveland, and representatives from labor, business and govermnent at all levels have united to support LTV Steel and recognize the importance of this industry bas in our community;