Big River Steel Updates
A bill outlining incentives to bring a $1.1 billion dollar investment to Mississippi County is now on its way the Governor’s desk. With a vote of 71-11, the House approved SB820.
The bill states the Big River Steel must employ at least 300 individuals at an average wage of $70,000 per year in order to receive state supported bonds.
The company has said publicly it plans to hire over 500 workers. The construction of the plant, which could begin late this year, is expected to support 2,000 jobs.
Big River Steel will produce steel used in the oil and gas industry for pipes and tubing, steel for the automotive industry, and steel used in the transformers and electric motors.
Members must vote on a separate appropriation bill before the project is approved. That appropriation will require 75 votes.
If approved this will be the first project approved under Amendment 82. Amendment 82 was approved by voters in 2004. It allows the legislature to approve up to 5% of the General Revenue budget for bonding of large economic development projects.