State announces plant expansion in Newport to add 100 jobs | Arkansas Blog

Monday, June 1, 2015

State announces plant expansion in Newport to add 100 jobs

Posted By on Mon, Jun 1, 2015 at 11:19 AM

The Arkansas Economic Development Commission announced today that Southwest Steel Processing would invest $18 million in its railcar and energy industry plant in Newport, and add 100 jobs over the next two years.

The company got a state bond issue guarantee in 2014 to aid expansion and will qualify for a variety of state-provided incentives for new job creation. The incentives include a $500,000 state grant for equipment and up to $350,000 from a local sales tax paid as an economic development incentive, plus tax credits.

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