President Donald Trump announced Monday plans for a $15 billion steel plant in Lee County, Iowa, that the White House described as the largest in U.S. history.

The project by Mesabi Metallics will initially produce 7.5 million tons of steel annually using iron ore from the company's new mine in Nashwauk, Minnesota, with potential expansion to 10 million tons. Production is expected to begin in 2030. The facility will employ electric arc furnaces and recycled scrap alongside the Minnesota ore for fully integrated domestic production.

Trump made the announcement in the Oval Office alongside Iowa Republican leaders including Rep. Mariannette Miller-Meeks and Sen. Joni Ernst. Rep. Ashley Hinson, the Republican nominee for the open Iowa Senate seat, also attended the event.

In an X post, Hinson celebrated announcement as a “game-changing investment” for Iowa.

Trump went on to highlight the project's expected economic impact of more than $95 billion and its role in strengthening American manufacturing.

The plant is projected to create 5,000 to 6,000 temporary construction jobs and approximately 1,750 permanent positions paying over $49 per hour on average. Mesabi Metallics, owned by India's Essar Group, has already begun site work, according to Trump. The U.S. Export-Import Bank is providing up to $10 billion in financing for related expansion.

Trump tied the investment to his administration's 50 percent tariffs on foreign steel, stating that such policies are drawing manufacturing back to the United States. The announcement comes amid ongoing Republican efforts in Iowa to win over voters ahead of the 2026 midterms. Iowa remains a competitive swing state in the Senate contest that pits Hinson against Democrat state Rep. Joshua Turek.

Turek responded to the announcement on Monday afternoon in an X post. In the post, he criticized Hinson for allegedly contributioning to rising costs during her time in Congress before going on to acknowledge the need for job growth and saying he would “look forward to seeing the details“ of the proposed plant.

White House officials noted the project reduces reliance on imported steel and supports domestic supply chains for industries, including defense and construction. State and federal officials expressed optimism about the long-term benefits for local communities and workers.