Trump Unveils $15 Billion Iowa Steel Plant, Promising 1,750 Jobs

3 articles · Updated · Fox News · Sep 28

$15 billion is slated for an Iowa steel plant the White House says would be the largest ever built in the U.S., with 1,750 permanent jobs and 5,000 to 6,000 construction roles.
The facility is planned to produce 7.5 million tons of steel a year in its first phase and 10 million tons eventually—about one-tenth of last year's total U.S. steel output.
Mesabi Metallics plans to feed the plant with iron ore from its Minnesota mine, creating a domestic supply chain the administration says will support defense-grade steel and national security needs.
The project still faces a long runway: first steel is not expected until 2030, while the Minnesota operation behind it has a nearly two-decade history of delays, financing troubles and a 2016 bankruptcy.
Trump is casting the announcement as proof his tariff-led manufacturing push is working, even as higher steel duties helped lift iron and steel prices 10.4% year over year through April 2026.