President Donald Trump announced Monday his plans for initiating a $15 billion steel plant in southeast Iowa, claiming it would be the largest in the United States.
The announcement took place at the White House during an event attended by steel executives and Iowa leaders, including Gov. Kim Reynolds, Sen. Joni Ernst, Reps. Mariannette Miller-Meeks and Ashley Hinson, and Iowa Attorney General Brenna Bird.
The plant is being developed by Mesabi Metallics, a Minnesota company owned by India-based Essar Group.
According to the reports, the project is expected to create about 6,000 construction jobs and 1,750 permanent jobs in Iowa and its first steel production is expected in 2030. Miller-Meeks’ office said the permanent jobs are expected to pay more than $49 an hour.
The White House stated the mill “will be fully vertically integrated in the U.S. (from iron mining through steel production).” It also said the facility will be able to support “important defense sector requirements for high-grade steel.”
READ: Trump TV launches as White House bars CNN, Politico and MS NOW from press access (September 22, 2026)
Gov. Reynolds called the project “transformational” and said it would bring high-paying jobs, opportunities for local businesses and community development to southeast Iowa and its labours.
“I want to thank President Trump for his commitment to bringing steel manufacturing back to America, and Mesabi Metallics for choosing Iowa as its partner and future home,” Gov. Reynolds said in a statement.
She said the project would strengthen national security, create thousands of high-paying jobs and provide a reliable supply of high-quality, American-made steel for strategic goods and everyday products.
“The largest steel plant in America is coming to Lee County with more than 1,700 permanent, good-paying jobs. I’m proud to have helped make this historic investment a reality. There’s no better place than Iowa to make things IN America, BY Americans,” Miller-Meeks said in a statement.
During the White House event, Reynolds also said “tough negotiations” took place to secure the project.
The announcement came days after reports that Iowa lawmakers could be called back to the Statehouse for a special legislative session to consider an incentive package for a large steel plant in southeast Iowa.
READ: AGSI CEO Assam Hussain highlights path to greener steel production in the UAE (December 12, 2025)
Monday’s announcement identified Mesabi Metallics as the company planning and developing the $15 billion plant in Lee County.
U.S. Commerce Secretary Howard Lutnick said private money would be used to build the Iowa steel plant.
He also said the Export-Import Bank helped finance the Minnesota mine that will supply iron ore to the plant.
When asked about whether the Iowa project was contingent on state tax breaks, Lutnick said no. “I think this deal is done. This deal is done. They’ve already worked it out,” he said.
However, questions remain about whether Iowa is separately considering incentives for the project and whether lawmakers could still be called back for a special session. Iowa House Republicans had not immediately responded to KCCI’s request for comment.