Trump to Announce $15 Billion Iowa Steel Plant Billed as Largest in American History
President Donald Trump is set to announce plans for a massive $15 billion steel plant in Iowa that the White House says will become the largest steelmaking facility in American history, bringing thousands of jobs and a major new manufacturing investment to the Midwest.
The project will be developed by Mesabi Metallics and is expected to create approximately 1,750 permanent jobs in Iowa. The first phase of construction is also projected to employ between 5,000 and 6,000 workers as the sprawling facility takes shape.
The plant is expected to produce approximately 7.5 million tons of steel annually during its first phase before eventually expanding to 10 million tons per year. At full capacity, the facility alone could produce an amount equal to roughly one-tenth of the steel made across the entire United States last year.
The project will also rely on American raw materials. Iron ore used at the Iowa facility is expected to come from Mesabi Metallics’ mining operation in Minnesota, creating what the administration describes as a fully domestic supply chain stretching from the mine to finished American steel.
The Minnesota operation represents another major investment, with roughly $2.5 billion being spent on the iron ore project. The White House says the mine will eventually produce 7.5 million tons annually and support approximately 350 permanent jobs.
The Iowa facility is expected to produce high-grade steel capable of meeting requirements for the defense sector and other critical industries. Administration officials are highlighting the project as part of a broader effort to strengthen domestic supply chains and reduce American dependence on foreign producers for strategically important materials.
Trump has repeatedly argued that tariffs and other trade policies can encourage companies to manufacture products inside the United States instead of relying on imports. His administration doubled tariffs on imported steel and aluminum to 50% last year as part of its effort to protect domestic producers, though companies that purchase steel have faced higher material costs.
Unlike many newer American steel facilities, which tend to be smaller operations, the Iowa project is planned as a large-scale integrated steel complex. The White House says it would become the first new American “mega-steel” plant built since the 1960s.
The first phase of the Iowa plant and the Minnesota mining operation represent nearly $18 billion in combined investment. According to White House estimates, the first phase could generate approximately $95 billion in economic activity during construction and the plant’s first decade of operation.
The project will take several years to complete, with Mesabi Metallics currently expecting the Iowa facility to begin producing its first steel in 2030. Trump is expected to formally unveil the investment from the Oval Office alongside company executives and administration officials, including Commerce Secretary Howard Lutnick.