Big River Steel breaks ground for Osceola mill | Arkansas Blog

Monday, September 22, 2014

Big River Steel breaks ground for Osceola mill

Posted By on Mon, Sep 22, 2014 at 11:37 AM

The state trumpeted today the groundbreaking for Big River Steel's $1.3 billion mill and recycling plant in Osceola. It's heavily subsidized by county and state governments, with direct support, tax credits and a huge equity investment in teacher retirement money.

The mill is expected to employ 500 people when completed in 20 months. The plant was bitterly opposed by Nucor Steel, already in operation in Mississippi County and formerly run by Big River's CEO, John Correnti.

Big River is a "flex mill," that will produce a range of products — light-weight steel used in autos, wide and thick steel used in pipes and electrical steel.

Gov. Mike Beebe, who championed the project, said it was the largest single business investment in Arkansas. The legislature authorized $125 million in bonds to help the project.

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