GEORGETOWN, S.C. (AP) - Former Georgetown Steel workers are hopeful a bid to buy the mill will mean they can regain jobs lost last fall, but some downtown business owners fear reopening the plant will bring pollution to the area.

About 500 people were thrown out of work in October when the mill, which makes wire rods, closed its doors and filed for protection from its creditors in U.S. Bankruptcy Court.

Earlier this week, International Steel Group of Richfield, Ohio said it would buy the shuttered plant for $16 million. The deal must be approved by the bankruptcy court. A hearing is set for next week.

"I'm happy," said Richard Harter who gathered with other former employees Wednesday at the union hall.

Harter said he and other workers have had trouble finding new jobs. "There are jobs out there, but they only pay $7 or $8 an hour."

The average salary for union mill workers at Georgetown Steel was about $31,000, higher than the average for other area industries.

"I'm waiting to see if it will open first," said former worker Joe Heinemann. "I don't believe nothing until that hammer comes down."

As some workers rejoiced, some downtown business owners worried reopening the plant would bring noise and pollution to the area. The mill spewed red dust on cars, trees and store windows, business owners said.

"I hate to see the rust start accumulating again," said Gerry Outlaw, part owner of an art gallery. "We would like to be able to open our windows. If the steel mill is here, you can't do that."

The mill has been subject to numerous environmental studies by the South Carolina Department of Health and Environmental Control.

Current mill owner Daniel Thorne has said routine tests have shown the amount of dust from Georgetown Steel has dropped considerably in recent years.

The city and Georgetown County have struggled financially without the mill. The area's jobless rate grew to almost 16 percent earlier this year. City officials are considering a tax increase for next year, due in part to the mill's closure. Georgetown's budget is expected to be about $8 million next year, a cut of $1 million from the 2003-04 budget. The mill has not paid property taxes, which were due in January.

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Information from: The Sun News, http://www.myrtlebeachonline.com/