WASHINGTON — President Trump is set to announce Monday afternoon that Minnesota-based Mesabi Metallics will build the largest steel plant in American history in Iowa.
The project comes as the administration promotes domestic manufacturing ahead of the Nov. 3 midterm elections. It also follows Trump’s decision to impose 50% tariffs on steel, a policy that has increased construction costs. The president has defended the tariffs as necessary to expand U.S. steel production and strengthen national security.
Republicans are seeking to retain all four of Iowa’s House seats, along with the Senate seat being left open by the retirement of Joni Ernst.
Polling indicates that all five congressional contests are competitive. Democrat Rob Sand, meanwhile, is favored to win the Des Moines governor’s mansion for his party for the first time in 20 years.
Vice President JD Vance has visited Iowa several times to promote the administration’s agenda in the heavily agricultural state, where farmers are contending with steep prices for fertilizer and diesel fuel.
The Iowa steel plant is expected to create 1,750 permanent jobs, along with between 5,000 and 6,000 construction positions, according to a White House official. Construction is scheduled to begin this month, with production expected to start in 2030.
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Mesabi recently committed $2.5 billion to an iron ore mine in Minnesota, its home state. The project marked the first new excavation in the United States in five decades.
The new steel facility will be located in eastern Iowa. Residents told the Des Moines Register that a commercial real estate agent has contacted them in recent weeks about purchasing their land.
Trump will make the formal announcement from the Oval Office alongside Mesabi executives and Commerce Secretary Howard Lutnick.
“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 was the first to report the planned announcement.
The steel plant is expected to begin with annual production capacity of 7.5 million tons, with the potential to increase output to as much as 10 million tons a year.
The White House estimates that the project’s first phase will generate $95 billion in total economic impact during construction and the first 10 years of operations.
