Arkansas Business: ADEQ reviewing Big River Steel project

    7:11 AM, May 13, 2013   |    comments
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    LITTLE ROCK, Ark. (Arkansas Business) -- Stocks continue to benefit from record-high corporate profits.

    Big earning reports due out this week

    Nearly all companies in the S&P 500 have reported first quarter earnings -- and according to research firm S&P Capital IQ, the average net income for companies in the index is expected to rise 5 percent.

    Looking ahead to this week, we'll get the latest numbers on April retail sales today. We'll get April import and export prices on Tuesday.

    And on Wednesday, we'll get numbers from the National Association of Home Builders Index for May.

    ADEQ reviewing Big River Steel project

    Here in Arkansas, Arkansas Economic Development Commission Director Grant Tennille says he expects construction on the $1.1 billion Big River Steel plant near Osceola to begin by the fall.

    State legislators approved a $125 million finance package that includes a $75 million grant during this year's legislative session.

    Now, the Arkansas Department of Environmental Quality is reviewing the plant's 770-page application for an air quality permit -- and the state Public Service Commission is expected to rule by May 20 on an application by Entergy Arkansas to build a pair of power lines to the plant.

    Meanwhile, Tennille telling the Associated Press that he thinks construction on the plant could begin around September but could be as late as November.

    Inuvo Inc. narrows first-quarter loss

    And earnings continue for Arkansas public companies. Inuvo Inc. of Conway narrowing its first-quarter loss to $290,000, less than the $1.9 million loss it reported in the same quarter last year.

    The company, which was founded by former Acxiom Corp. executives and moved its headquarters to Conway in January, said first-quarter revenue rose 82 percent to $15.9 million.

    Inuvo is an Internet marketing and search company that develops consumer web applications to deliver targeted online advertising.

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