County panel approves $14.5 million for Big River Steel
By The Associated Press
This article was published March 6, 2013 at 8:28 a.m.
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BLYTHEVILLE — The Mississippi County Planning and Development Committee has signed off on $14.5 million in funding for the proposed $1.1 billion Big River Steel mill to be built near Osceola.
The committee approved a resolution Tuesday to appropriate the money from the county’s economic development tax. The measure still needs approval from the county’s finance committee and the full quorum court.
Mill developers say 2,000 construction workers would be needed to build the mill, which promises to employ more than 500 people.
The project is contingent on the Legislature’s approval of $125 million in bonds to help finance the project.
The Jonesboro Sun reported that the Mississippi County Quorum Court plans to vote on the proposal at its March 26 meeting.
Comment on: County panel approves $14.5 million for Big River Steel
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edwinholstead_sbcglobal.net says... March 6, 2013 at 1:51 p.m.
In regards to committing $14.5 of Mississippi Counties Industrial Big
River Steel Fund it represents severe lack of planning on the part of the counties Industrial Development Manager. This amount of money spent with practically no specific plan made available to the public. All entities have not been revealed and specifics regarding cost of land and by whom and what is the average cost of land in Mississippi County? These things are important to the taxpayers that pay into this fund. Big River Steel may not make it! The US economy is weak. The worlds economy is weak. It is a big risk We could lose our $14.5 tax money. And No public meeting so far.
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