AR House Delays Vote On Steel Mill Proposal
LITTLE ROCK, Ark. (AP) — The Arkansas House delayed a vote on a proposal to provide a company with $125 million in state financing to help build a new steel mill in northeastern Arkansas.
Lawmakers didn't take up the proposal on Thursday as the legislation's sponsor, Rep. Monte Hodges, made a technical change to the proposal. The measure could come up Friday.
The legislation would authorize Arkansas to issue bonds to provide a loan and pay some of the construction costs of the $1.1 billion steel mill. The company promises to create at least 525 permanent jobs.
The Senate approved identical legislation by a 26-6 vote on Tuesday.
Gov. Mike Beebe and legislative leaders have endorsed the proposal. But some conservatives and a competing steel mill in the area have opposed the plan.