The former Super Steel plant in Glenville has new owners. Our Britt Godshalk has more on what it means for the taxpayers, for the community, and for the company that plans to put the plant back to work by March.

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The company is stepping up to take ownership of the old Super Steel facility in Glenville - a more than $5 million dollar investment. Dimension plans to sell its five buildings that sit about five miles away.

"This will put everything under one roof," said Stevens.

The building has been the site of negative news in the past. In 2006, Super Steel - a locomotive manufacturer - settled a class action lawsuit against what several African-American employees called "rampant racism" at the plant. In 2008, the economy worsened; Super Steel had super financial troubles.

"Eight months ago this plant closed due to an unprecedented drop in demand for locomotives," said Susan Savage, the president of the Schenectady County Legislature.

One hundred seventy-five workers lost their jobs. Now, Dimension hoping to turn over a new leaf for the property. But to do so the property tax incentives had to be right.

"That was an important part of the equation," said Stevens.

"They will pay full taxes for the first five years," said Savage. "And then go to 60 percent for the next five years. And then to full taxes. So this is a very good deal of the taxpayers."

The company will be exempt from a $50,000 mortgage recording tax and will pay no sales tax on materials used to improve the building.

"This plant is going to work very well for us because it's got big cranes. It's got plenty of rail sidings and easy access to the highway which is the sort of thing we need," said Stevens.

An example of something Dimension makes sits in the facility already. It's a 22-ton column that will go inside a bridge in New Haven, Connecticut.

"We'll turn out one of those, every other day," said Stevens.

That'll mean a bit more truck traffic here and more employees. The company plans to add 25 to its current staff of 60. Not the 175 that were once employed at this site. But it's a start.

"I think it's a new day for this building and for this community," said Savage.