Steel Mills
Arkansas Passes Incentives Aimed at Steel Mills
Written by Sandy Williams
April 1, 2017
On Thursday SMU reported that tax incentives aimed at helping Big River Steel expand had passed the Arkansas Senate. The Senate Bill 688 has now been approved by the House in a 79-11 vote on Friday. SMU also received a comment on the legislation from Big River Steel’s CEO, Dave Stickler.
Rep. Monte Hodges, D-Blytheville, told the House that SB688 would “ensure a positive cost benefit to the state in the evaluation of a potential future steel project that meets other eligibility criteria.”
“It has to be done. It has to be built. The jobs have to be in place before we give them a cent,” he said. “That’s what I really like about this incentive.”
Dave Stickler, Big River Steel’s chief executive officer, said the company is pleased by the Senate’s interest in encouraging steel investment in the region. In a statement sent to Steel Market Update Mr. Stickler said:
“With several notable accomplishments already achieved, including establishing new records in terms of first month production levels and being able to operate profitably by the second month, Big River Steel looks forward to building on this momentum,” said Stickler. “To this end, we are pleased that the Arkansas Senate has taken steps to encourage additional steel investments in the state of Arkansas. As anyone in the steel industry must do to thrive, we are continually evaluating a range of opportunities.”
Mr. Stickler will be interviewed on stage by SMU CEO and Publisher, John Packard, during the 7th SMU Steel Summit Conference in Atlanta on August 28, 29, 30th 2017.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Cleveland-Cliffs quietly removes name from Steelton mill
The Cleveland-Cliffs name has been removed from its idled Steelton rail mill. SMU asked Cliffs about the move and if it might signal that it is selling the mill...
Nucor sees sequentially lower Q3 profits across all three business segments
Nucor's third-quarter earnings will be down quarter-over-quarter, but still higher than a year earlier.
Hyundai still on for Louisiana steel mill despite US raid at Georgia battery plant
Hyundai has reaffirmed its commitment to build a steel plant in Louisiana following a US government immigration raid at its battery facility in Georgia.
Hybar lowers output forecast, owning up to EAF startup delay
Hybar LLC’s rebar mill in Osceola, Ark., is now melting scrap and will soon be fulfilling orders, according to CEO David Stickler, despite a six-to-eight-week delay caused by commissioning the world’s first Aura electrical system.
Steel Dynamics guides to more metal, more money in Q3
Steel Dynamics Inc. is bullish heading into the close of the third quarter, with all three of its operating segments tracking higher.