By Arkansas Black Vitality
MISSISSIPPI COUNTY, Ark. – March 11, 2025 – As homeownership rates continue to wane in Arkansas, a unique program in northeast quadrant of the state is seeking to change that narrative in the region’s fast-growing “steel corridor.”

On Monday, Hybar Steel announced that it has joined the “Work Here. Live Here.” housing incentive program in Mississippi County as an industry partner. With an investment of $500,000 to help its employees purchase homes in the county, Hybar becomes the 15th employer to participate in WHLH. Since the program launched in 2023, it has generated $36.1 million in new home value and facilitated 122 home purchases.

“The program takes us one step further in terms of attractive benefits at Hybar,” said David Stickler, CEO of Hybar. “We pay great wages, have a robust healthcare program, a bonus for perfect attendance, a partnership with Arkansas Northeastern College (ANC) and, now, housing incentives through (WHLH).”

WHLH was created to strengthen Mississippi County’s workforce by making homeownership more accessible for employees of participating companies. Overseen by the Grow Mississippi County Community Foundation, WHLH is a cooperative partnership between the foundation, participating industries and several Mississippi County financial institutions. ​Funded by the participating industries, the program offers up to $50,000 toward the cost of a new home and up to $25,000 toward an existing home. 

Hybar is nearing completion of its state-of-the-art steel rebar mill in Osceola. The mill is designed to be powered by 100% renewable energy, making it the most environmentally sustainable facility of its kind. It is being built on a 1,300-acre site in northeast Arkansas, furthering Arkansas’ leadership position as home to North America’s most advanced and environmentally sustainable steel-making facilities.

Expected to begin production in May of this year, the steel mill is joined by Hybar’s adjacent solar field and its port facility on the Mississippi River, which, according to Stickler, could one day become the largest port between New Orleans and St. Louis. 

Hybar was established in August 2023 with $700 million in financing, including $330 million in twenty-five-year bonds issued by the Arkansas Development Finance Authority. Wall Street investment giant Goldman Sachs & Co. LLC served as lead underwriter for the offering, and Truist Securities and Crews & Associates, Inc. acted as co-managers. Little Rock law firm Mitchell Williams served as local counsel to Hybar.

The company currently employs more than 100 people, with plans to expand to 200 direct employees and 50-60 indirect workers. While recognized for its competitive pay — aiming to have the highest-paid steel workers in the world — Hybar’s career opportunities and benefits also extend to employees in human resources, marketing, IT, logistics and more.

“We’re very pleased that Hybar has joined the growing number of companies who have contributed to the Grow Mississippi County Community Foundation and embraced the WHLH program,” said Clif Chitwood, president of Mississippi County Economic Development. “Their participation will help us continue to attract and retain the high-quality employees necessary to fill the increasing number of excellent jobs here in the county.”

According to local officials, WHLH has already made a measurable impact in Mississippi County, with 38% of homeowners in the program moving in from outside the county and 60% being first-time homebuyers. The northeast Arkansas homeownership initiative comes as homeownership rates in Arkansas fell to 65.9% in the fourth quarter of 2024, down from  67.7% a year ago.

Besides Hybar, the development of the $1.3 billion Big River Steel complex in Osceola has spurred the expansion of Arkansas’ “steel corridor” in Mississippi County. After Big River Steel was acquired in 2021 by Pittsburgh-based U.S. Steel Corp., the nation’s largest steel conglomerate announced plans to build a $3 billion, 6.3 million-ton mega mill in Arkansas to better compete for an original auto manufacturing facility.  

In November 2024, the $4 billion Big River 2 plan began production, making Mississippi County the top steel-producing county in the country.  The new mini mill boasts an impressive annual capacity of 3 million metric tons of steel, specializing in light and wide gauge steel products primarily targeted at the automotive industry. The facility is equipped with two advanced galvanizing lines, complementing the existing Big River plant’s 3.3 million metric ton capacity.

Besides U.S. Steel, current steel producers in the Northeast Arkansas county include North Carolina industrial giant Nucor Corp., Nucor Yamato, Nucor Hickman, Majestic Steel USA and Koch Metallics.

In late 2023, Nippon Steel proposed a blockbuster deal to acquire U.S. Steel for $15 billion. However, former President Joe Biden issued an executive order on Jan. 3, blocking the deal. President Trump, who reinstated 25% tariffs on steel imports in early February, publicly stated that he opposed the Japanese industrial conglomerate buying the Pittsburgh steeler.

WHLH is expanding its reach beyond the steel industry as participation from companies across manufacturing, logistics and other key sectors continues to grow. “Arkansas is a great place to do business, and Mississippi County, in particular, is a great place to do steel business,” said Stickler. 

For more information about “Work Here. Live Here.”, visit workhereliveherear.com.