Mississippi would guarantee a $75 million loan and offer $25 million in grants as part of an incentive package to lure a steel mill to Lowndes County, a lawmaker told The Associated Press today.
It is unclear when company officials will announce their choice of a site. SteelCorr also viewed a site in Osceola, Ark., though it is unclear if the land there is still a contender.
The mill would employ about 500 workers. Production workers are guaranteed at least a $70,000 salary, Smith said, adding that he would handle the incentive legislation in the House.
Smith said there’s a provision in the bill that the work force must reflect the region’s diversity, which he said is 34 percent black.