Mississippi Lawmaker says $75M loan part of incentive package for steel mill

The Clarion-Ledger

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.

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