Hyundai to Bring New Steel Plant With 1300 New Jobs to Louisiana

As the new year gets underway, Louisiana received some positive economic news as Hyundai Motor Group announced that they are planning to build a multibillion-dollar steel mill in Ascension Parish, to supply steel for its Hyundai and Kia vehicle assembly plants in the U.S.  The new plant is expected to create 1,300 new, permanent jobs. Construction could start as early as 2026, pending regulatory approvals, with operations expected by 2029. Economist Loren Scott says this is a big win for Louisiana. 

“This is the type of industry that not only brings a lot of jobs but also has a very large multiplier effect.  In other words, there are a lot of other industries such as construction, healthcare, and professional services that will also start picking up jobs.” 

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The new facility, expected to cost six-billion-dollars, will be built on sugarcane fields near Donaldsonville within the Riverplex MegaPark industrial site.  Scott says Louisiana offers many positive benefits, including low-cost natural gas, electricity, rail lines, highways, and strategic access to shipping. 

“You’ve got the Mississippi River.  They’re going to take this steel they’re making and transport it to their car-making manufacturers for Kia and Hyundai and they’ll be able to use the Mississippi River and the Gulf of Mexico to achieve that.” 

Hyundai aims to mitigate potential tariffs and reduce logistics costs by manufacturing its steel. The project reflects Governor Jeff Landry’s push for industrial growth. Landry’s October visit to South Korea helped advance negotiations with Hyundai, which will benefit from tax incentives and industrial tax exemptions. 

“This is absolutely good for the Landry Administration.  If you look at the number of projects started up in the previous year it was very, very, very impressive.” 

Environmental concerns from local activists may arise as the project advances, although no major opposition has surfaced in the area so far.