Key Details of Hyundai’s Steel Plant Investment in Louisiana
• Location & Scale: The plant will be located in Ascension Parish, Louisiana. This marks Hyundai Steel Company's first-ever North American steel facility.
• Economic Impact: The project is expected to generate 5,500 new jobs in the region, including 1,400 direct jobs with an average annual salary of $95,000. Additionally, 4,100 indirect jobs will be created, further contributing to the local economy.
• Annual Steel Production: The plant will produce an estimated 2.7 million metric tons of steel annually, primarily for Hyundai’s vehicle manufacturing plants in the U.S. and other major automotive manufacturers like General Motors and Ford.
• Infrastructure Development: The facility will require the importation of 3.6 million metric tons of iron ore annually. Hyundai Steel will collaborate with the Port of South Louisiana to build a deep-water dock on the West Bank of Ascension Parish, improving steel and material shipment capabilities. There will also be upgrades in road, rail, electric, and pipeline infrastructure as part of the RiverPlex Megapark’s development.
• Workforce Development: In preparation for the new plant, a new workforce training center will be developed by River Parishes Community College and the Louisiana Community and Technical College System (LCTCS). The training center will focus on hands-on skills coaching and job-specific instruction to support the project’s workforce needs.
Economic Significance for Louisiana
• Largest Economic Development Project: This announcement is the largest single economic development project in the region since BRAC's formation in 2005, signifying a major milestone for the state’s manufacturing sector.
• Job Creation: Beyond the 1,400 direct jobs, the indirect employment generated through this facility is expected to have a broad economic impact, creating significant opportunities in local supply chains, construction, and various services.
• Reinforcement of Economic Policies: Governor Landry emphasized that Hyundai's investment is a direct result of Louisiana’s historic tax reforms and President Trump’s economic policies, which have revitalized the state's manufacturing capabilities.
• Rising Global Competitiveness: The facility will help Louisiana position itself as a competitive force in the manufacturing industry, attracting further investment from global companies like Hyundai and Meta.
Investment Details and Project Timeline
• Project Size and Scope: The facility’s $5.8 billion investment will support steel production capacity for North American automotive demand. This includes a steady supply of 2.7 million metric tons of steel to meet the needs of Hyundai, GM, and Ford.
• Construction Timeline: Construction of the steel plant is expected to begin in the third quarter of 2026. This timeline includes the building of both the facility itself and the surrounding infrastructure to ensure smooth operations for shipping and production.
Community and Workforce Development
• Partnerships for Workforce Training: The development of a new workforce training center, in partnership with LCTCS, will focus on equipping local workers with the skills required for the high-tech steel manufacturing jobs.
• LED FastStart Program: HSC will utilize the Louisiana Economic Development (LED) FastStart program, which offers recruitment, training, and employee retention services tailored to the company’s specific needs. The goal is to prepare a highly skilled workforce that can adapt to the technical demands of modern manufacturing.
Strategic Infrastructure Enhancements
• Port Infrastructure: To support the steel production plant, HSC will work with the Port of South Louisiana to build the necessary shipping facilities. The deep-water dock will accommodate large shipments of steel and raw materials, connecting the facility to global supply chains.
• Integrated Infrastructure Plans: The expansion of roads, rail, electric grids, and pipelines is designed to ensure seamless logistical operations. This infrastructure development is key to supporting not only the Hyundai facility but also attracting future suppliers and customers to the area.
Key Takeaways
• Hyundai Steel is investing $5.8 billion to build a steel manufacturing facility in Ascension Parish, Louisiana.
• The facility will produce 2.7 million metric tons of steel annually and serve major car manufacturers like Hyundai, GM, and Ford.
• The project is expected to create 5,500 new jobs, including 1,400 direct jobs with an average salary of $95,000.
• Infrastructure upgrades will include a new deep-water dock at the Port of South Louisiana, along with expanded road, rail, and electric facilities.
• Louisiana will develop a new workforce training center with LCTCS to meet the facility’s job needs.
• Construction is set to begin in the third quarter of 2026, with a focus on modern manufacturing technologies and a competitive workforce.
This project marks a significant step toward Louisiana’s economic revitalization, boosting both manufacturing capabilities and job opportunities.
