LITTLE ROCK, Ark. (AP) - Gov. Mike Beebe says developers will build a $1.1 billion steel mill in Arkansas if legislators approve startup funding for the project.
The project in Osceola would produce 525 jobs to start. About 2,000 construction jobs must also be filled while the site is developed.
The governor had said in his state of the state address that the state was in line for an "advanced manufacturing facility" if the Legislature would approve incentives. Under Amendment 82, the state can borrow up to $235 million to attract business.
Osceola Mayor Dickie Kennemore said the operation is a new venture called Big River Steel.
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