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State budget adjusted to allow Nucor steel plant financing

Legislators to mail in ballots

A change to the state's construction budget is in the works so that steelmaker Nucor Corp. can receive $30 million from the state for its planned iron and steel plant in St. James Parish.

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Nucor announces new plant
View full sizeNucor paid $50 million for 4, 000 acres of land in Convent where it plans to build a iron plant that will employ more than 1,000 workers. September 15 2010

The Interim Emergency Board, a panel of lawmakers and other state officials, agreed Friday to a change in the construction budget that will allow Nucor to get the money this year.

Emergency board action must be approved through mailed ballot by the Legislature. A two-thirds vote is needed. The construction budget spending also must be approved by the Bond Commission before Nucor can receive the money.

The planned Nucor plant could total $3.4 billion if all five project phases are built and could create as many as 1,250 jobs.



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