President Donald Trump on Monday will announce a $15 billion project— the largest steel plant in American history — to be built by Mesabi Metallics in Iowa, a White House official confirmed to the Washington Examiner.
The event will take place at the White House, where Joe Broking, CEO of Mesabi Metallics, Rewant Ruia, chairman of Mesabi Metallics, and other officials of the group will join the president and Commerce Secretary Howard Lutnick.
The steel investment comes as Iowa voters are voicing frustration with the Trump administration over the war in Iran, beef imports from Argentina and Brazil, and rising fuel costs.
Mesabi Metallics recently opened its first new iron mine in the United States in 50 years in Minnesota. The group has also already begun commissioning the mine and will be in production by mid-September. It is expected to create 350 new jobs in Minnesota. The first steel production is expected to begin in 2030 and will create 1,750 new permanent jobs in Iowa, along with 5,000 to 6,000 construction jobs, according to the White House official. The Iowa steel plant will use iron ore from Minnesota’s Mesabi Iron Range.
Once it’s fully operating, the steel plant will produce 10 million tons of steel a year. The first phase will produce 7.5 million tons of steel per year and is expected to generate $95 billion in total economic impact over construction and the first 10 years of operation.
“President Trump is delivering on his promise to rebuild American industry, reshore manufacturing, and create new jobs,” said Taylor Rogers, a White House spokeswoman. “Today’s announcement underscores the President’s historic efforts to revitalize the U.S. steel industry—supporting local communities, strengthening supply chains, and protecting our national security. After decades of decline, this President is restoring America’s industrial competitiveness and securing trillions of dollars in new investment.”
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The Wall Street Journal, which first broke the news, reported that the plant will open up in eastern Iowa, making it easier to transport iron ore from its mine through the Mississippi River.
Trump won Iowa all three times during his presidential campaigns, but farmers’ frustrations over rising gas and fuel prices have caused Republicans to worry that Democrats could win key Senate, two House seats, and gubernatorial races in the state. Trump’s approval rating in Iowa is at 48%, while is dissaproval rating is at 49%, according to Morning Consult.
Rep. Ashley Hinson (R-IA), the Republican Senate nominee, has called for an end to the war in her tough battle against Democrat Josh Turek (D-IA). Last week, Sabato’s Crystal Ball revised the Senate race from “leans Republican” to a toss-up in favor of Democrats.