Hyundai Motor Group executive chairman Chung Eui-sun speaks as President Trump, Gov. Jeff Landry and Hyundai Motor Company CEO Jaehoon Chang look on in the White House yesterday. Photo: Brendan Smialowski/AFP via Getty Images
Hyundai will build a $5.8 billion steel mill in Ascension Parish, with construction slated to begin in the fall of 2026, the company announced yesterday.
Why it matters: President Trump brought top Louisiana officials to the White House to celebrate the announcement, putting the state on a national stage as Gov. Jeff Landry's administration aims to increase business investment here.
By the numbers: The new factory will create 1,400 direct new jobs with an average salary of $95,000, Landry's office says.
Between the lines: The investment comes just days before the Trump administration is set to enact new tariffs, writes Axios' Joann Muller.
What they're saying: "Before the summer's over, we'll have $50 billion worth of construction projects going on in Louisiana," Landry said. "That is a record, Mr. President."
Landry credited what he called Trump's "America first" policies for the investments, as well as recent Louisiana legislation.
"We worked on making Louisiana as friendly for business as the president is making America. We worked on public safety. We worked on education reform. ... We worked on tax reform," he said.
