Today, Congressman Rick Crawford (R-AR), welcomed news that Big River Steel, LLC is planning to build a steel mill in Osceola, AR that will directly create 500 new jobs with an average salary of $75,000. In addition, 2,000 construction jobs will also be created. The plans are contingent on approval by the legislature authorizing the state of Arkansas to issue $125 million in general obligation bonds under the authority of Amendment 82.
"Today's exciting announcement by Big River Steel has the potential to enhance the current steel industry in Northeast Arkansas and grow our regional economy. If the state legislature approves the bonds, 500 families will see new employment opportunities with good paying jobs," said Crawford. "As a member of the Congressional Steel Caucus, I work every day to expand markets for American steel and opportunities for American workers in the steel industry. In the coming weeks and months I plan to work closely with Big River Steel's leadership team, officials in Mississippi County and Osceola Mayor Dickie Kennemore to do all we can to advocate for the successful completion of this project.
The $125 million generated by the sale of the bonds will be used as follows:
* $50 million loan to Big River Steel
* $50 million for site preparation
* $20 million for costs associated with piling -- subsurface stabilization
* $5 million bond issuance cost
Congressman Rick Crawford represents Arkansas's First Congressional District in the United States House of Representatives. Crawford serves on the Agriculture Committee and the Transportation and Infrastructure Committee. On the Agriculture Committee, Crawford is Chairman of the Livestock, Rural Development and Credit Subcommittee. Congressman Crawford and his wife Stacy live in Jonesboro with their two children.