The Blytheville Courier News reports that Nucor-Yamato Steel is planning a $115 million expansion to produce a new type of steel product. It would create 10 to 15 jobs.
It wants the city to issue $115 million in Act 9 bonds for the project. Typically under Act 9 bonds, a government owns a property until the bonds are paid off. The bonds enjoy tax-free status and thus carry lower interest rates on the borrowing. Also, the property doesn’t go on local tax rolls, though businesses sometimes make payments in lieu of taxes.
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No mention in the story relative to Nucor’s recent opposition to the big state subsidy package for a startup competitor, Big River Steel, in Mississippi County.