MAGNOLIA, ARK. (KTVE/KARD) — The Albemarle Corporation has committed to a an expansion of $540 million of its bromine plants in Columbia County. This new expansion and project, at the company’s Magnolia South and Magnolia West facilities, will create around 100 new and permanent jobs.

The word on the official expansion came Wednesday, November 10, 2022, during a public meeting at the Columbia County Courthouse. County Judge Denny Foster signed official paperwork that authorized the  issuance by the county of two separate revenue bonds, known as “Act 9” bonds.

The difference in the two bonds are the amounts and expansion locations. They are $380 million for the South Plant and $160 million for the West Plant. The revenue bonds will finance new buildings, acquisition and installation of various machinery, equipment and other property, and the expense paid for the of issuing the bonds.

This project is the largest economic development project in Columbia County history and will be built over a 5 year period. Construction is currently already taking place at the facilities. The expansion construction will require about 250 workers, meaning about 100 more people will be hired permanently.