Southwest Steel Processing announced Monday it plans to invest $18 million in its Newport plant, adding a second forging line and creating 100 new jobs over the next two years. The state will contribute an additional $11 million to the project. Scott Hardin, from the Arkansas Economic Development Commission, says the company chose to expand in Arkansas due to the capability of the existing workforce and community.
“This morning the leaders of Southwest Steel Processing actually said one of the specific reasons they’re choosing to expand this Newport facility is because they had such a great existing workforce. They know there are certainly another hundred people in the community that can certainly fill these positions.”
The addition of these new positions will nearly double the total number of workers, increasing from the current 120 to 220.
The manufacturer of railcar, oil, and gas components is among other steel companies choosing to invest in northeast Arkansas, according to Hardin.
“… obviously the Big River steel facility that’s still under construction, today’s announcement of significant expansion in Newport along with several others that we’ve seen over the past couple of years. The steel industry is definitely doing well in Arkansas.”