US Steel to Invest $750M in IN Plant
U.S. Steel (Pittsburgh) announced late last week that, in light of President Donald J. Trump’s tariffs on imported steel, it will be investing $750 million to update and revitalize the 110-year-old flagship plant, located in Gary, Indiana.
U.S. Steel Plant Expansion
The investment is part of a $2 billion revitalization project for U.S. Steel. The expansion of the Gary plant, which will take place over the next five years, will also see the installation of new production equipment and technology. Plans for expansion do not apply to the workforce, currently totaling 3,800 at the Gary plant.
U.S. Steel Corp. President and CEO David Burritt named positive trade policies regarding steel imports as the key to the company’s program, which is slated to include improvements to the plant’s environmental performance, as well as the installation of new equipment and machinery.
“Through the skill and determination of our employees, support from the state and city, without which this project would not be possible, and favorable trade policies with the strong Section 232 national security action on steel imports, we are experiencing a renaissance at U.S. Steel,” Burritt added.
Gary Works, which has been in operation since 1908, is U.S. Steel’s largest manufacturing plant, as well as the largest integrated steel mill in North America, according to the company. Currently, the facility is composed of steelmaking and finishing facilities, with the capacity to produce 7.5 million net tons of raw steel annually. Gary Works produces sheet products, strip mill plate in coils and tin products.
The Indiana Economic Development Corporation will offer U.S. Steel up to $10 million in conditional tax credits over a 10-year period, dependent on the company’s commitment to retain the jobs at the plant. The offer has yet to be approved by the IEDC and the State Budget Committee. Also being offered is $2 million in Skills Enhancement Fund training grants to facilitate workforce development.