Consultants picked for Region 8 steel plant review

LITTLE ROCK, AR (AP) - Two firms have been picked to review for lawmakers a proposal to provide $125 million in state financing for a $1.1 billion steel mill proposed for northeast Arkansas.

The Bureau of Legislative Research on Tuesday said it had entered into contracts with Regional Economic Models, Inc. and Global Insights, Inc. to conduct an independent review of the proposed Big River Steel Project.

Regional Economic Models will conduct a cost/benefit analysis of the project and also look at the project's impacts in areas such as employment, taxes and revenue and population.

The firm will be paid $29,000. Global Insight will look at the same areas, but also analyze the project's capital costs, financing, economic incentives and the steel market.

It will be paid $48,750. Both reviews are due in two weeks.

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