WASHINGTON — President Trump will announce Monday afternoon that the largest steel plant in American history will be built in Iowa by Minnesota-based Mesabi Metallics.
The announcement is part of the administration’s focus on domestic manufacturing ahead of the Nov. 3 midterm elections and comes as the president’s 50% tariffs on steel have driven up construction prices. Trump argues the move was necessary to boost domestic steel production, calling it a national security issue.
Republicans are defending all four of Iowa’s House seats as well as the Senate seat being vacated by the retiring Joni Ernst.
Polls show all five congressional races are competitive, while Democrat Rob Sand is favored to turn the Des Moines governor’s mansion blue for the first time in 20 years.
Vice President JD Vance has traveled to the state several times to get the administration’s message out in the heavily agricultural state where farmers are struggling with high prices on fertilizer and diesel fuel.
The steel plant will create 1,750 new permanent jobs in Iowa in addition to 5,000 to 6,000 construction jobs, a White House official said, with construction expected to start this month and production scheduled to begin in 2030.
Mesabi recently invested $2.5 billion in an iron ore mine in its home state, the first new excavation in the US in five decades.
The new steel plant will be in eastern Iowa, with local residents telling the Des Moines Register that a commercial real estate agent has approached them over the last few weeks about selling their land.
Trump will be joined in the Oval Office by Mesabil executives and Commerce Secretary Howard Lutnick for the formal announcement.
“President Trump is delivering on his promise to rebuild American industry, reshore manufacturing, and create new jobs. Today’s announcement underscores the President’s historic efforts to revitalize the US steel industry — supporting local communities, strengthening supply chains, and protecting our national security,” White House spokesperson Taylor Rogers said in a statement.
The Wall Street Journal first reported the announcement.
The initial annual production capacity of the steel plant is estimated to be 7.5 million tons and could rise as high as 10 million per year.
The first phase of the project is expected to generate $95 billion in total economic impact over construction and the first 10 years of operation, the White House predicted.
