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Wednesday, October 01, 2014, 5:57 a.m.

Beebe to discuss steel mill with House

By The Associated Press

This article was originally published February 6, 2013 at 7:24 a.m. Updated February 6, 2013 at 11:11 a.m.

— Gov. Mike Beebe and state economic development officials are scheduled to answer questions from the state House about a $1.1 billion steel mill that Big River Steel says it wants to build in northeast Arkansas.

Beebe is to speak at a special meeting of the House on Wednesday to discuss his proposal to issue $125 million in state-backed bonds to land the project. Taxpayers would repay most of that money and the company would be on the hook for $50 million.

Beebe and economic development officials briefed the Senate earlier this week and said they are confident the mill would be a good investment for Arkansas.

Lawmakers will have 20 days to decide on whether to approve the financing. The 20-day timeline starts when Beebe submits a formal proposal.

Read tomorrow's Arkansas Democrat-Gazette for full details.

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