Stephen Moret: This definitely is a great day for St. James Parish and our entire state! Nucor will break ground on the first phase of the five-phase project as soon as it completes environmental permitting, which we currently expect will be early 2011. It is possible they will begin site preparation activities even sooner.
If they complete all phases of the project described in their incentive package with the state (which they must do to receive the complete state incentive package), the project ultimately would represent about 1,250 direct new jobs ($75,000 average, plus benefits) and $3.4 billion in new capital investment.
Once they have completed the steel mill (which is not the first phase), we expect to be able to recruit additional companies that would take advantage of being located in close proximity to the project.