Thu June 5, 2014
Blue Oak Arkansas Groundbreaking Tuesday
A groundbreaking will take place next week at the site of a $35 million dollar electronics recycling plant in Osceola. Blue Oak Resources of Burlingame, California will break ground on the site, which will be called Blue Oak Arkansas, which is expected to employ up to 50 people. The ceremony will take place Tuesday, and will feature Arkansas Governor Mike Beebe and former United States Vice President Al Gore. Gore is a partner in a California capital firm, which is a partial investor in the plant. The Arkansas Democrat Gazette reports the Arkansas Teacher Retirement System is investing up to 18 million dollars in Blue Oak, Arkansas and Blue Oak Resources will have a 35 percent share of the facility. Chairman of Blue Oak Resources is John Correnti, whom is also the chairman of Big River Steel, which is a one-point-one billion dollar steel plant that is coming to Osceola. Groundbreaking for Big River Steel could take place later this month of next month.