The Legislature’s Joint Agriculture, Forest and Economic Development Committee is scheduled to meet this afternoon in Little Rock to discuss the Big River Steel project.
Two separate reports by independent consultants released last week raised questions about the amount of benefits the state would receive if a massive steel plant is built in Mississippi County.
State officials want the Legislature to authorize the issuance of $125 million in bonds to help build the $1.1 billion steel mill near Osceola. The bonds are allowed under Amendment 82 to the Arkansas Constitution. The proposed steel mill is the first project for which state officials are seeking aid under this amendment, often referred to as the superproject amendment.
The state plans to provide other economic incentives, including tax credits, deductions and refunds.
Officials with the Arkansas Economic Development Commission will be on hand to discuss the project.
Read tomorrow's Arkansas Democrat-Gazette for full details.