US Steel builds $3 billion plant in Arkansas – CBS Pittsburgh

LITTLE ROCK, Ark. (AP/KDKA) – U.S. Steel Corporation on Tuesday announced it is building a $3 billion plant in northeast Arkansas that is expected to employ at least 900 people.

The Pittsburgh-based company announced it has chosen Osceola as the site of its new factory, with construction expected to begin early this year and be completed in 2024. Osceola is a short walk from Memphis, Tennessee is about 50 miles (80 km) north.

“With the site selected and the shovels ready, we are reshaping the future of steelmaking,” said US Steel Company President and CEO David B. Burritt in a statement. declare. “We have a wide selection of competitive locations, but Osceola offers customers incomparable advantages.”

It comes after US Steel canceled plans for a $1.5 billion project to bring state-of-the-art improvements to Mon Valley Works last spring. It’s not clear if Pittsburgh is being used as the site for the new factory.

Arkansas lawmakers last month passed an incentive package to help bring steel projects back to the state, including an income tax credit on recycling equipment for the facility.

READ MORE: Domestic steel experts say US Steel’s decision to drop $1.5 billion Mon Valley project makes sense

The facility will be located near the existing Big River Steel plant, also owned by US Steel. Another steel mill owned by Nucor Steel is also located in the area.

Governor Asa Hutchinson said: “Arkansas has created an ideal business environment for the growth of the steel industry in our state. “The investment and high-paying jobs resulting from this announcement will make a real difference in the lives of many families in Northeast Arkansas.”

U.S. Steel says the new facility will feature two electric arc furnaces with advanced steelmaking capacity of 3 million tons per year, “modern” endless casting and rolling lines and advanced finishing capabilities.

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