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Sep 20, 2010 1:20 PM

Millions to Steelmaker Throwing LA's Construction Budget Out of Balance

BATON ROUGE, La. (AP) - The Jindal administration's plan to give
$30 million to steelmaker Nucor for an iron and steel plant in St.
James Parish is throwing the state's construction budget out of
balance.
To make the numbers work, some of the new construction projects
lawmakers and the administration had planned to fund this year will
have to be at least temporarily derailed.
The construction budget details $4.7 billion in multiyear
spending plans.
Those are mostly projects approved in past years that already
are in line for borrowing and those that have direct streams of
cash funding, like road and bridge repairs.
Louisiana has a cap on annual borrowing that will limit spending
on construction projects to an estimated $320 million in the
current budget year.

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