Osceola’s Big River Steel announces $1.2 billion expansion
OSCEOLA, Ark. — A northeast Arkansas steel mill and scrap recycling facility is spending $1.2 billion in an expansion that will add 500 new jobs.
Big River Steel announced Friday that major construction of the expansion of its Osceola facility will begin later this year and continue for about two years. Operations at the $1.3 billion mill began in early 2017.
The company says the work will expand Big River Steel’s hot-rolled steel production capacity to 3.3 million tons annually. An Arkansas Economic Development Commission spokeswoman said the average salary of the new jobs will be $75,000. The facility currently employs 541 people.
AEDC says Big River Steel will receive a recycling equipment tax credit for the expansion.