Osceola kicks in $2 million for Big River Steel
OSCEOLA (AP) - The city of Osceola is the latest governmental body to approve incentives for the planned $1.1 billion Big River Steel mill in northeast Arkansas.
The Blytheville Courier News reports that the Osceola City Council approved $2 million this week for the new steel mill.
The decision comes after the Arkansas Legislature approved $125 million in incentives for the new mill, which is to be built near Osceola. In exchange for the incentives, Big River Steel has promised to create at least 525 jobs with an average annual wage of at least $75,000.
Big River Steel has said it wants to close the deal in the third quarter of this year.
Mississippi County has also approved $14.5 million in county development funds as an incentive for the project.Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.