The top executives of a company that plans to build a $15 billion steel mill in southeast Iowa joined President Trump in the Oval Office today to announce the project.
Prashant Ruia’s family founded the Essar Group, which owns the Mesabi Metalics iron ore mine in Minnesota and will be building the plant in Lee County. “With the new steel complex in Iowa, we will complete the fully-integrated American supply chain from mine to mill,” said Ruia, who is director of Essar Capital. “America ore carried on American railroads, to an American steel plant, powered by American energy, built and operated by an incredibly hardworking and talented American workforce.”
Essar co-founder and chairman Rewant Ruia said his family has built world-class steel plants in India and all over the globe. “We have now chosen to build our next major chapter here in America,” Rewant Ruia said. “We have the expertise of building projects like the proposed steel plant in Iowa and we look forward to complement all the excellent knowledge that already exists with in the American steel industry with our own expertise.”
Five Iowa elected officials were in the Oval Office for the announcement, including Governor Kim Reynolds. “I can’t even express the gratitude and the excitement of Iowans and really what this does is it changes the economic trajectory for this region,” Reynolds said. “It’s one of the most depressed regions of Iowa.”
The governor did not unveil details of a state incentive package, but indicated she’s been involved in negotiations with the company. “Tough negotiations took place, but the mindset was always to get where we are at today and we could not be prouder than being the future home of the largest steel investment in this country,” Reynolds said and Trump responded: “That’s right.”
Reynolds said supply chain issues during COVID underscore how important it is to increase steel production in the U.S.. “It reduces our dependence on our foreign supply chains, strengthens our national security,” Reynolds said, “and most importantly — as the governor of Iowa — these are tremendous, high-paying jobs with incredible benefits.” Reynolds indicated a natural gas pipeline will be extended to the plant, critical infrastructure that will benefit residents and businesses in the area as well.
“Folks, this is one of the greatest American muscle flexes you are going to see in a long time,” Senator Joni Ernst said. “…We are looking for ways to America to refine, to mine, to grow and to manufacture and all of that is happening right there in southeast Iowa.”
Congresswoman Mariannette Miller-Meeks represents Lee County, which she said has been an area that’s seen an exodus of jobs to other states and other countries. “It’s heartbreaking when you’re in those communities day after day,” Miller-Meeks said. “so to see the largest steel mill in America being built in Iowa and, in southeast Iowa 1700 permanent jobs, 6000 construction jobs, average salary of $49 (an hour). These are families that can make over $100,000 (annually), so it’s just transformational in this area.”
Congresswoman Ashley Hinson also focused on the 1750 full-time jobs promised once the plant opens. “It is a game changer for our state,” Hinson said, “and, frankly, for the country.”
After Hinson’s remarks, Trump announced he plans to be in Iowa before the election to campaign for Hinson, Miller-Meeks and Attorney General Brenna Bird, who was also in the Oval Office today. “I’m going to come to Iowa. I got more votes than anybody in history during the last election…I think I’m more popular people than I was then, which is a year and a half ago,” Trump said. “I will say I’m going to do a great rally and we’ll all be there together. We have to get you all elected.”
Hinson interjected: “We’ll save you a good Iowa pork chop, sir,” and Trump replied: “That’s one of the reasons I want to go.”
U.S. Commerce Secretary Howard Lutnick said the tariffs Trump slapped on steel imports are the reason the U.S. steel industry is expanding, the mine opened in Minnesota and the plant is being built in southeast Iowa.
