La. lawmakers approve fund for TK project

Dec 19, 2006 | 02:21 PM | Scott Robertson

Louisiana officials took a step forward in their attempts to lure a $3-billion-plus steel mill construction project but without committing a dime.

Nevertheless, the state legislature's action to create a fund to provide incentives for ThyssenKrupp AG, Düsseldorf, Germany, to build the mill in Louisiana impressed mill executives, according to the state's top business recruiter.

The state House of Representatives voted unanimously and the state Senate was almost unanimous in its approval of the creation of a fund for the project. The legislature did not actually allocate $300 million to the fund—the figure thought to be required to pay for incentives to lure the mill—but Michael Olivier, Louisiana's economic development secretary, said creation of the fund pleased ThyssenKrupp executives.....





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