Trump to Announce Record $15 Billion Steel Plant in Iowa, Creating 1,750 Jobs President Trump will announce that Mesabi Metallics will build the largest steel plant in U.S. history in Iowa, with production starting in 2030 and 1,750 permanent jobs plus 5,000 to 6,000 construction jobs. 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 set for 2 p.m. in the Oval Office, part of the administration's focus on domestic manufacturing ahead of the Nov. 3 midterm elections. Mesabi Metallics Iowa Steel Plant DetailsThe $15 billion project will create 1,750 new permanent jobs in Iowa, plus 5,000 to 6,000 construction jobs, a White House official said. Construction is expected to start this month, with production scheduled to begin in 2030. The plant's initial annual production capacity is estimated at 7.5 million tons of steel, and could rise as high as 10 million tons per year.A White House official said this will be the first mega steel plant built in the U.S. since the 1960s. The iron ore for the plant will come from Mesabi Metallics's new $2.5 billion iron ore mine in Minnesota, which is the first new excavation in the U.S. in five decades. White House spokeswoman Taylor Rogers said, President Trump is delivering on his promise to rebuild American industry, re-shore manufacturing, and create new jobs.Today's announcement underscores the President's historic efforts to revitalize the U.S. steel industry, supporting local communities, strengthening supply chains, and protecting our national security. After decades of decline, this president is restoring America's industrial competitiveness and securing trillions of dollars in new investment. Mesabi Metallics executives, along with Secretary of Commerce Howard Lutnick and Export-Import Bank Chairman John Jovanovic, are expected to be in the Oval Office for the announcement.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. Plans for the new plant are the latest move by the Trump administration to boost domestic steel manufacturing in the face of overseas competition, a centerpiece of the president's trade agenda.Tariffs And Iowa Steel Plant LocationHowever, the president's 50% tariffs on steel have driven up construction prices. Mesabi has yet to announce where in Iowa the steel plant will be built. Local residents have been telling the Des Moines Register about their hopes for the project. The announcement comes less than 40 days before the midterms.Iowa Republicans are defending all four of Iowa's House seats, and polls show all five congressional races are competitive. 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.