JEFFERSON CITY, Mo. (AP) — Steel producer Nucor is building a steel mill in the mid-Missouri city of Sedalia.
Missouri Gov. Eric Greitens on Tuesday announced the company is investing at least $250 million on the micro-mill. Greitens’ administration says more than 250 new jobs will be created once it’s built.
Economic Development Department spokeswoman Maggie Kost said the company could get as much as $27.3 million in economic incentives over the next 15 years.
She says it’s likely the company would not have come to Missouri without a law passed this summer that allows steel mills and other major electricity users to negotiate lower electricity rates for longer contracts.
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Supporters of the change wanted to bring jobs to southeastern Missouri, where a Noranda aluminum smelter’s closure last year eliminated more than 900 jobs.