Business Facilities - November 2007 - (Page 45)

BUSINESS REPORT Arkansas By Pearl Gabel Northeast Arkansas Scores Major Investments A U.S. steel giant and one of the country’s leading railcar manufacturers are bringing new expansion projects to Arkansas’ northeast region. The latter half of 2007 brought substantial investments to Northeast Arkansas, including a joint project between Nucor Corporation, one of the largest steel producers in the United States, and the Heritage Group, a group of companies that provide various industrial services. In October, the two companies unveiled their plan to build the $29 million PIZO Operating Company LLC in Blytheville, AR. The new company, which will employ 43 people, will process electric arc furnace dust from two Nucor steel plants in Mississippi County, AR—Nucor Hickman and Nucor Yamato. The technology used in the facility will be based on the PIZO process developed by Heritage Environmental Services LLC, a member of the Heritage Group. The state of Arkansas and Mississippi County have agreed to offer assistance in terms of grants and tax incentives to help with the venture. “This investment by Nucor and the Heritage Group is good news on two fronts,” says Governor Mike Beebe. “The creation of PIZO means more high-quality jobs for Northeast Arkansas, and also production of usable materials from waste, helping us better utilize our resources. This is a great example of employing environmentally friendly ideas as an engine for economic development.” Another major investment coming to Arkansas’ northeast region is from American Railcar Industries, Inc. (ARI), manufacturer of covered hopper and tank railcars. The company broke ground in July on a new manufacturing facility at its existing site in Marmaduke, AR. The groundbreaking complements additional expansions by the company at the facility in Marmaduke and at another facility in nearby Paragould, AR. These two recent expansions, which include construction of new manufacturing space, will allow ARI to build some of its own components used in its railcars. In total, ARI is investing $51 million and creating more than 300 jobs. “We are very excited about the expansion at our Marmaduke facility,” says Jim Unger, president and CEO, ARI. “This new flexible production line will provide new job opportunities for the community and will significantly increase our company’s capacity and ability to serve more diverse railcar markets.” ARKANSAS FAST FACTS Population (2006): 2,810,872 Largest Cities (2006): Little Rock, 184,422; Fort Smith, 83,461; Fayetteville, 68,726; Jonesboro 60,489; North Little Rock, 58,896 Targeted Industries: Automotive, manufacturing, rubber and plastics, distribution, emerging technology, biotechnology Finance: 54,000 Mining: 8,900 ARKANSAS INDUSTRY EMPLOYMENT (July 2007) Professional & Business Services: 117,400 1,000 THOUSANDS OF WORKERS 800 Services Providing: 937,000 Goods Producing: 259,100 Manufacturing: 191,400 600 Construction: 58,800 400 200 Key Incentives: Advantage Arkansas, Tax Back, InvestArk, The Arkansas Science and Technology Authority (ASTA) Investment Fund, Industrial Revenue Bonds SOURCE: BUREAU OF LABOR STATISTICS BUSINESS FACILITIES 45

Table of Contents Feed for the Digital Edition of Business Facilities - November 2007

Business Facilities - November 2007 Contents First Words Snapshots Metro Spotlight: Indianapolis Region, Indiana Georgia's Pursuit of Industry Extreme Technology Sites A Tennessee Trifecta A Watershed Moment for Philly Metro Spotlight: Mexico-Texas Border Region High Tech and Aerospace Heat up in Arizona Meeting the Information Technology Challenge IEDC Announces 2007 Winners Corporate Moves: Alabama Northeast Arkansas Scores Major Investments Corporate Moves: Virginia Metro Spotlight: Martinsville-Henry County, VA Renewable Michigan Advertiser Index Ask the Expert

Business Facilities - November 2007

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.