State lawmakers are returning to the capitol this week to consider incentives for a proposed steel plant in Iowa.
Minnesota-based Mesabi Metallics says it plans to invest $15 billion into building a steel plant in Lee County, which could employ 1,700 people when operational.
Governor Kim Reynolds was in the Oval Office when President Donald Trump announced the project on Monday. White House officials said the plant was not dependent on any local tax breaks.
On Tuesday she called a special session to revise state incentives in the MEGA program for major projects like this. Her proclamation says lawmakers should increase the allowed tax credit from five to ten percent and change definitions to fit the project.
In a statement, she called the steel plant “the most consequential economic development opportunity ever for our state.”
Democratic leaders in the Statehouse say they’re interested in job creation but want to ensure any tax incentives are in the best interest of Iowans.
