Former President Donald Trump has announced a plan for what's billed as the largest steel plant in U.S. history. The facility would be built in Lee County, Iowa, with Mesabi Metallics.
Trump's social media account put the investment at $15 billion and claimed it would add $95 billion to the U.S. economy. CNBC noted the announcement comes as Americans' souring views of the economy are poised to shape the upcoming midterm election.
The announcement comes five weeks from the election, in a congressional district the Republican incumbent won by fewer than 800 votes.
Developing — unverified: The $15 billion investment figure, the $95 billion economic impact claim, and the project's feasibility have not been independently verified. Details about scale, timeline, and financing remain limited.
CBS noted that there is no iron ore in Iowa. Mesabi Metallics, described as a mining company, operates upriver from the proposed site, which the company says eases transportation. CBS was blunt about the optics: the announcement came from Trump, surrounded by politicians who could benefit.
Among them is Representative Miller-Meeks, who represents Iowa's 1st Congressional District, where the plant would be located. Miller-Meeks won her last race by fewer than 800 votes, the smallest margin of any Republican congressional victory. In the rematch, polls have moved the race from a toss-up to leaning blue toward Democrat Christina Bohannon.
Miller-Meeks called the project "transformational," citing 1,700 permanent jobs, 6,000 construction jobs, and families making over $100,000. If you live in Iowa's 1st District, your ballot just got a steel plant attached to it. Whether the announcement sways voters in a race that has shifted toward Bohannon is the question.
State lawmakers, currently out of regular session, could be called back to approve tax breaks for the mining company.