Three weeks ago Iowa lawmakers approved offering nearly $1.4 billion dollars’ worth of incentives for a steel plant in southeast Iowa, but state and local officials are still negotiating with the company over the details.
Iowa Economic Development Authority Diretor Debi Durham said she’s leading the state’s negotiations with India-based Mesabi Metallics. “If, in fact, everything comes together, it’s going to be a transformational project not only for Iowa, but for the United States,” Durham said. “But it’s not done yet. We’re very close.”
Durham said the White House is working to expedite approval of permits for a natural gas pipeline that would reach the proposed steel plant campus in Lee County. Mesabi Metallics had hired lobbyists in Kentucky and had filed documents with that state indicating it was considering a site near Paducah for its steel mill, but Durham said the company has given Iowa a 60 day window for exclusive negotiations. She has not revealed when that 60 day window closes…