With $15 billion in facility-specific investment and 1,750 permanent operating jobs announced, this project clears both of AFT's qualifying thresholds ($100 million in facility-specific investment OR 100 permanent operating jobs). This project also meets AFT's primary-source verification and physical U.S. manufacturing-footprint requirements.
View full methodology →The steel context.
American steelmakers are building a new generation of electric-arc-furnace mills alongside expanded sheet, plate, rebar and coating lines. Nucor, U.S. Steel, Cleveland-Cliffs, Steel Dynamics, CMC, BlueScope and Hyundai Steel are adding capacity for automakers, construction and grid infrastructure across the industrial Midwest, Southeast and Southwest.
At a glance
- Company
- Mesabi Metallics
- Industry
- Steel
- Location
- Lee County, Iowa
- Investment
- $15.00B
- Permanent jobs announced
- 1,750
- Status
- Announced
- Announced
- Sep 28, 2026
- Expected opening
- 2030
- Added to tracker
- Sep 29, 2026
Read the Project Watch brief
A source-linked look at what's announced versus confirmed for this project. Project Watch follows this manufacturing record and adds nothing to AFT's database totals.
View current status →Official references
- Company investment and jobs https://www.mesabimetallics.com/mesabi-metallics-investing-18-billion-to-create-a-fully-integrated-american-steel-company-uniting-minnesota-mine-and-iowa-steel-complex/
- Lee County location https://nunn.house.gov/2026/09/28/nunn-welcomes-1700-jobs-and-15-billion-steel-investment-coming-to-iowa/
- Production target https://www.reuters.com/business/trump-unveil-planned-15-billion-iowa-steel-project-2026-09-28/