Arkansas State Capitol, Little Rock
LITTLE ROCK, Ark. (AP) - Consultants hired by the state Legislature say the size of the incentives Arkansas is offering to lure a $1.1 billion steel mill erode some of the benefits the state would otherwise see from the project.
Legislative officials on Friday released a pair of reports by consultants reviewing the proposed incentive package being offered to for the proposed Big River Steel mill in Osceola. Gov. Mike Beebe has asked lawmakers to approve a $125 million financing plan for the project.
Regional Economic Models, Inc. said its biggest concern surrounding the project is a recycling tax credit the state is offering the facility that would be worth $216 million over 14 years.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)