Teachers kicking in to help start new Arkansas steel mill - KNOE 8 News; KNOE-TV; KNOE.com |

Teachers kicking in to help start new Arkansas steel mill

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LITTLE ROCK, Ar., (KNOE 8 News) - Trustees for the Ark. Teacher Retirement System have agreed to invest in the planned $1 billion Big River Steel LLC mill in Osceola.

Trustees briefly discussed the project in their Monday meeting before approving the investment on a voice vote.

System Director George Hopkins told members the investment doesn't rely on a middleman who would claim a portion of profits. Member Danny Knight said the board regularly helps finance projects outside of Arkansas and that it should be eager to back an in-state endeavor.

Hopkins says a due diligence study the panel used was made through a contract made by the Arkansas Economic Development Commission, which is exempt from the state public records law.

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