Gov. Beebe to discuss steel mill with House
LITTLE ROCK (AP) — 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.