Nucor seeks to add mill at Blytheville
Nucor Steel Arkansas is planning a $230 million expansion at its Blytheville steel plant that will create 100 new jobs, said Liz Smith, executive director of the Greater Blytheville Area Chamber of Commerce.
The Blytheville Courier News, which first reported the project, said Nucor is seeking a bond issue from the city to finance the construction of a cold mill at its plant.
The Courier News said the Blytheville City Council will consider the request next week.
The newspaper also reported that Nucor Controller Mark DiGirolamo told the City Council that the jobs will pay about $80,000 a year.
The Arkansas Economic Development Commission is in the process negotiating incentives with Nucor regarding the expansion, said Scott Hardin, a spokesman for the agency.
He said he could not provide more information on the project as a deal has not been finalized.
-- Jessica Seaman
4-story development gets Capitol-zone OK
Mullenix Land Company LLC is planning a four-story, mixed-use development at 204 S. Bishop St., across from the state Capitol.
Plans call for demolition of the existing Precision Motors building at the site. Property at 1706 W. Third and 1724 W. Third will be used as a parking lot for the 19,300-square-foot building, which will include office space, an apartment and a two-car garage.
Members of the Capitol Zoning Commission voted on Thursday to approve a certificate of appropriateness for the structure. Ted Mullenix of Mullenix Land Company LLC said he had neither an estimated cost on the project nor a firm timeline for construction to begin. Mullenix also is president of a lobbying firm, Mullenix & Associates.
Attempts to reach architect John Johnson of Williams & Dean were unsuccessful. Johnson filed the Capitol Zoning application on behalf of Ted and Julie Mullenix.
The six commissioners approved the project 6-0. Chairman Kelly Eichler abstained from voting because " I know the Mullenixes and I think they're wonderful people."
-- Chris Bahn
Arkansas Index dips 0.79, ends at 337.66
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, slipped 0.79 to 337.66 Friday.
Shares of Bear State Financial fell 3.3 percent in heavy trading.
PAM Transportation rose 3.7 percent on low volume.
For the week, nine stocks rose, seven fell, and two were unchanged.
J.B. Hunt was up 4.5 percent for the week.
Murphy Oil dropped 6.3 percent for the week.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 09/17/2016