U.S. Steel has already made Arkansas a priority and yesterday they said they are sweetening the pot. The company’s CEO said yesterday at the Arkansas Chamber of Commerce’s annual meeting in Little Rock that they are going to be investing another 3 billion in the state over the next three years.
Chief Executive Officer David Burritt said the spending will go to at least two projects, a previously announced new metals plant at the Big River Steel site and a new grain-oriented electrical steel facility. It’s a part of the company’s commitment to invest $11 billion in its domestic operations by 2028 after agreeing to a $15 billion “historic partnership” with its new owner, Japanese manufacturing giant Nippon Steel.
“This is where America’s next century of steel is being forged,” Burritt said. “Just a few years ago, people thought the American steel industry’s best days were behind it … well, they need to take a trip to Mississippi County, because that’s where the American steel comeback is happening right now.”
“Not just the steel comeback. The American comeback. Period,” he said.
The grain-oriented electrical steel facility can be considered an “additional enhancement” to the existing Big River Steel site. Grain-oriented electrical steel is used for transformers and electrical-grid-related projects. Big River currently manufactures non-grain-oriented steels, which are used in electric vehicle manufacturing.
U.S. Steel has already invested around 7 billion dollars in Arkansas.
