AAC
COVER STORY
U.S. Steel to locate $3 billion steel mill in Northeast Arkansas The largest economic development project in Arkansas history
Story by George Jared & Roby Brock
Talk Business & Politics Photo courtesy of UNITED STATES STEEL CORP.
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hen Big River Steel first started operations near Osceola in Mississippi County in 2014, it was one of the largest industrial projects ever in the state of Arkansas. BRS, now owned by U.S. Steel, is about to get a companion steel mill and it will rival the first plant in terms of money spent and jobs created. U.S. Steel Corp. announced Jan. 11 it would locate a new $3 billion steel factory in Osceola, a move expected to create 900 jobs with an average pay over $100,000 annually. It is the largest capital investment project in Arkansas history. The new optimized steel production facility is expected to feature two electric arc furnaces (EAFs) with 3 million tons per year of advanced steelmaking capability, a state-of-the-art endless casting and rolling line, and advanced finishing capabilities. Upon completion, the project will apply to become LEED certified, the company said. “With this location selected and shovels ready, we are reshaping the future of steelmaking,” said U.S. Steel President and CEO David Burritt. “We had numerous competitive site options, but Osceola offers our customers 24
incomparable advantages.” “Arkansas has created an ideal business environment for the growth of the steel industry in our state,” Gov. Asa Hutchinson said. “The investment and high paying jobs that will result from this announcement will make a real difference in the lives of many families in Northeast Arkansas. I am grateful for the support of the legislature which was critical in winning this expansion. Now, U. S. Steel is an important part of our future and we look forward to continued success in the coming years.” Dubbed “Project Blueprint,” the steel mill will begin construction in early 2022. “The state of Arkansas, Mississippi County, the city of Osceola, Entergy, BNSF, and other parties have all worked to make this the clear choice for a path to the future without roadblocks. We’re not going to make our stakeholders wait to see progress. We intend to break ground this quarter and get to work as soon as permits are in hand. With its extraordinarily low-cost structure, energy efficient production equipment, and advanced capabilities, this $3 billion project will yield significant benefits to our customers, stockholders, communities, employees, and contribute to a more sustainable world,” Burritt added. Shares of Pittsburgh-based U.S. Steel Corp. (NYSE: X) closed trading on Tuesday at $24.39. The company’s stock COUNTY LINES, WINTER 2022
