US Steel’s $2.5bn investment in its Mon Valley Works is projected to have a $1.7bn total economic impact for the Commonwealth area of the US.
The figures were reported in an economic impact analysis which also outlined a predicted $58m generated in state and local tax revenue.
David B. Burritt, CEO of US Steel, said: “The Mon Valley Works is where the American steel industry was first forged, and this investment is proof that its best days are still ahead.
“This investment means thousands of good-paying jobs protected, a world-class facility, and steel that will supply American automakers and manufacturers for generations. This is what investing in America looks like.”
The investment includes the construction of a hot strip mill at the Mon Valley Works Edgar Thomson Plant in Braddock, Pennsylvania. The new facility will replace an 87-year-old hot strip mill at the nearby Irvin Plant.
David N. Taylor, CEO of the Pennsylvania Manufacturers' Association, added: "For communities across the Mon Valley, this investment is bringing jobs, opportunity, and renewed strength for the region we call home.
"By supporting good-paying careers and generating tax revenue to help fund schools, services, and infrastructure, U. S. Steel’s commitment reaffirms Pittsburgh’s role as Pennsylvania’s industrial backbone and promises lasting benefits across the Commonwealth.”
