Nucor has broken ground on the first phase of its $3.4 billion facility in St. James Parish, Louisiana. The New Orleans-area iron and steel manufacturing plant could create more than 1,250 direct jobs and is one of the largest industrial projects in state history.
The first phase entails the construction of a direct reduced iron (DRI) facility that represents $750 million in capital investments and 150 jobs.
"We are excited to be getting our DRI project underway and to bring good manufacturing jobs to Southeast Louisiana," said Nucor Chairman, President, and CEO Dan DiMicco. "Manufacturing has long been the cornerstone of the American economy, and we feel that it will once again lead our country back to economic prosperity."
Nucor selected Louisiana for its work force, competitive business environment, and recent state efforts to eliminate certain business taxes.