OSCEOLA, Ark. (KAIT) – United States Steel Corporation announced Tuesday it will build a new $3 billion steel mill in Osceola, bringing hundreds of high-paying jobs to the area.
According to a news release from the company, the company expects the move to create 900 jobs with an average annual salary of more than $100,000.
The company expects to break ground in the first quarter of 2022, with project completion and full operation expected in 2024.
“With this location selected and shovels ready, we are reshaping the future of steelmaking,” said U. S. Steel President and Chief Executive Officer David B. Burritt. “We had numerous competitive site options, but Osceola offers our customers incomparable advantages.”
When completed, the new facility along with Big River Steel will reportedly form a “6.3 million ton mega mill capable of providing many of the most advanced and sustainable steels in North America.”
“Arkansas has created an ideal business environment for the growth of the steel industry in our state,” Arkansas Governor 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.”
Our content partners, Talk Business & Politics, called it the largest capital investment project in Arkansas history.
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