SCIOTO COUNTY, Ohio (WSAZ) -- Developers say the huge economic impact from a proposed $1 billion Russian steel plant in southern Ohio will ripple throughout the region.

Groundbreaking for the plant reportedly is close, and air and water permits have been approved. The steel mill will provide about 1,000 jobs in its first two phases.

The Southern Ohio Port Authority's Bob Walton said the only holdup in Russia's MMK Steel turning Franklin Furnace soybean fields into a sprawling steel plant is finalizing a land purchase with landowner Norfolk and Southern Railroad.

"It's the final thing, really," he said.

Walton said an agreement that was reached is that about 2,000 plant construction workers will not come from out of town. Not union necessarily, but local construction companies will build the plant.

Walton said the Russians' commitment to community partnership includes funding for the struggling Green School System.

"They've already said they will put up millions to build a new school," he said.

Ron Lindsey, the Green Schools Superintendent, said he's only heard rumors and nothing more.

"Any developer with an abatement that wants to help us financially, that would be a real blessing," he said.

The Ohio Department of Transportation said steel plant construction may permanently close some stretches of Old Route 52. Instead of a bypass or a cloverleaf interchange to go to the steel mill on Route 52, ODOT says preliminary plans are to just put up a traffic light and turn lanes.

Locals say that would create a traffic nightmare -- tie-ups from an estimated 1,800 steel loaded trucks coming out of a steel mill that will spark some serious changes.

Walton said potential spin-off companies are already checking on Franklin Furnace sites. An ODOT spokesperson said the state will consider a bypass or interchange off Route 52 when the plant developers submit a traffic-impact study.