U.S. Steel strengthens Arkansas’ economy and jobs

Pine Bluff, Arkansas – A newly published economic impact report sheds light on the significant financial contribution of two major steel facilities in Arkansas to the state and local economies. Big River Steel in Osceola and Wheeling Machine Products in Pine Bluff, both operating under the umbrella of the United States Steel Corporation (U.S. Steel), have infused an astounding $383.2 million into the local and state financial realms in Fiscal Year 2022. On top of this, the corporation has secured employment for 1,747 individuals.

Driving Economic Change and Job Growth

The economic landscape is set to witness further growth with U.S. Steel gearing up for a ribbon-cutting event on October 12, marking the launch of its new non-grain oriented (NGO) electrical steel line. This innovative venture focuses on producing advanced, low-carbon, electric steels. Parallelly, construction of a second mini-mill steelmaking facility is in progress, a leap towards embracing sustainable steel production. These simultaneous projects are bound to catalyze economic transformation in the region.

David B. Burritt, the President and CEO of U.S. Steel, expressed his enthusiasm about the company’s impact on Arkansas. He emphasized the core strategy of U.S. Steel – the Best for All® strategy. Burritt mentioned, “The transformation brought about by U.S. Steel’s operations in northeast Arkansas fills us with pride. With the ongoing construction of Big River Steel 2, we are anticipating the creation of an additional 900 jobs.”

U.S. Steel’s presence in Arkansas has not only boosted the economy but also played a pivotal role in elevating the standard of living for many. Highlighting this impact, Randy Zook, the President and CEO of the Arkansas State Chamber of Commerce and the Associated Industries of Arkansas, stated that these jobs have paved the way for families to attain financial stability, bridging generational wealth gaps.

Daniel Brown, Senior Vice President of Advanced Technology Steelmaking, reiterated the company’s commitment to Osceola and the wider Arkansas community, expressing optimism about the ongoing projects.

A Thorough Economic Analysis

U.S. Steel engaged Parker Philips, a renowned national consulting firm, to conduct the economic impact study. Nicholle Parker, a principal partner at the firm, elaborated on the purpose of such an analysis, indicating its importance for policymakers and businesses in decision-making. U.S. Steel’s significant influence on the local, state, and regional economies is evident not just in its operations but also in its charitable endeavors and community engagements.

The comprehensive study took into account various financial avenues, from operational costs and wages to charitable contributions by U.S. Steel and its workforce.