Steel producer Nucor is building a steel mill in Sedalia.
Missouri Gov. Eric Greitens on Tuesday announced the company is investing at least $250 million on the micro-mill. Greitens' administration says more than 250 new jobs will be created once it's built.
Economic Development Department spokesperson Maggie Kost said the company could get as much as $27.3 million in economic incentives over the next 15 years.
She says it's likely the company would not have come to Missouri without a law passed this summer that allows steel mills and other major electricity users to negotiate lower electricity rates for longer contracts.
Supporters of the change wanted to bring jobs to southeastern Missouri, where a Noranda aluminum smelter's closure last year eliminated more than 900 jobs.