Jonesboro asked to increase bond issue for Nordex

JONESBORO, Ark. (AP) - The Jonesboro City Council is being asked to authorize a larger bond issue to finance construction of a wind turbine plant.

Aldermen are to consider the request for Nordex USA during a meeting Tuesday.

The council originally authorized issuing up to $100 million in industrial development bonds. Nordex chief counsel Richard Casey now says the company will need to modify the agreement to $125 million.

The council will also consider a resolution to accept a $2 million grant from the Arkansas Economic Development Commission that is associated with the Nordex project.

Nordex has guaranteed the creation of 700 full-time jobs at an average wage of $17 per hour and to invest at least $100 million on the facility.

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