Nucor nearer to receiving $30 million from state

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Posted: Oct 20, 2010 4:43 PM
Source: Associated Press

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Topics: budget, state, louisiana, incentive, package, nucor, steel, iron, plant, st. james, parish, wbrz, baton, rouge

Lawmakers overwhelmingly voted to rework the state's construction budget so steelmaker Nucor Corp. can receive $30 million from the state for its planned iron and steel plant in St. James Parish.

In results released Wednesday, the House voted 94-4 and the Senate voted 30-4 in favor of a change in the construction budget that will allow Nucor to get the money this year.

The vote was done through a mailed ballot, to approve the actions of the Interim Emergency Board, which first had to approve the budget shuffling.

The final vote before Nucor can get the money is Thursday at the State Bond Commission.

The planned Nucor facility could total $3.4 billion, if all five project phases are built, and could create up to 1,250 jobs.

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