92°
Baton Rouge, Louisiana
3 Day Outlook
Fri
85°
70°
80%
Sat
84°
68°
60%
Sun
85°
69°
60%

Latest Weather Blog

Follow our weather team on social media

Nucor incentives putting other state projects on hold

4 years ago September 20, 2010 Sep 20, 2010 Monday, September 20 2010 Monday, September 20, 2010 9:07:44 AM EDT in News
Source: Associated Press

The Jindal administration's plan to give $30 million to steelmaker Nucor for an iron and steel plant in St. James Parish is throwing the state's construction budget out of balance.

To make the numbers work, some of the new construction projects lawmakers and the administration had planned to fund this year will have to be at least temporarily derailed.

The construction budget details $4.7 billion in multiyear spending plans.

Those are mostly projects approved in past years that already are in line for borrowing and those that have direct streams of cash funding, like road and bridge repairs.

Louisiana has a cap on annual borrowing that will limit spending on construction projects to an estimated $320 million in the current budget year.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
Radar
5 Days
Today
92°
71°
Fri
T-Storms
85°
70°
Sat
Scattered T-Storms
84°
68°
Sun
Scattered T-Storms
85°
69°
Mon
Scattered T-Storms
83°
69°