LITTLE ROCK, Ark. (Arkansas Business) -- Federal Reserve Chairman Ben Bernanke says that the government will consider an aggressive stimulus to boost the nation's economy. And while some stocks slumped earlier in the day thanks to bailout troubles in Cyprus, Bernanke said the Mediterranean nation should have no effect on the U.S. marketplace.
Former real estate developer arrested in NYC
Former real estate developer Brandon Barber was arrested in New York City yesterday and charged in Federal court on 27 counts including bank fraud and money laundering.
Four others, including Barber's lawyer, were also indicted stemming from the investigation led by U.S. Attorney's office of the Western District of Arkansas, the FBI and the Internal Revenue Service.
Barber, the former son-in-law of Chambers Bank of Danville owner John Chambers, filed bankruptcy in 2009.
Big River Steel could get Labor Day groundbreaking
The Big River Steel plant in Osceola could have its groundbreaking as early as Labor Day, according to its developer.
John Correnti says construction permits should be approved next month and the $1.1 billion steel mill would be ready to be built between September and November.
Over 2000 construction jobs and 500 permanent jobs are expected to be offered.
The Arkansas Legislature would still have to approve $125 million in state financing for the project to proceed as scheduled.
House approves tax credits for investment groups
An Arkansas House committee did approve a new economic development program that would give tax credits to investment groups who provide financing to small businesses.
The investors could then sell the tax credits to raise capital for the small businesses.
The sponsor of the bill, Democrat Representative Darrin Williams of Little Rock, says the new program would make it easier to for private companies to bring jobs to low-income areas of the state.
Despite passing the panel on a unanimous vote, the bill still needs to be approved by both houses of the Legislature.