CEDAR RAPIDS, Iowa (KCRG) - President Donald Trump announced America’s largest-ever steel plant will be built in southeast Iowa.

Mining company Mesabi Metallics and Iowa leaders gathered for the announcement at the Oval Office Monday afternoon.

The White House says the announcement is part of Trump’s efforts to revitalize the U.S. steel industry.

The $15 billion mega steel plant will produce an estimated 10 million tons of steel each year once it’s fully online by 2030, with capacity to support the U.S. defense sector. In addition to the $15 billion plant, $3 billion will be dedicated toward the completion of an iron ore mine in Minnesota.

Mesabi Metallics says the plant will create 5,000 to 6,000 construction jobs, and 1,750 permanent Iowa jobs.

The plant will use iron ore from the Mesabi Metallics mine in Nashwauk, Minnesota. Mesabi Metallics is owned by India-based Essar Group.

The president pointed to the 50% tariffs he has set on foreign steel - saying they are a key to ramping up U.S. manufacturing.

President Trump said, “Soon after my inauguration, I imposed powerful, 50% tariffs on all foreign steel and now our steel industry is roaring back to life. Everyone is building their plant here before they don’t want to pay tariffs. It’s really not that complicated. Lot of people say they don’t understand it, but they do. They just don’t like to give us credit.”

Several of Iowa’s leaders welcomed the news on Monday, including Governor Kim Reynolds, Rep. Mariannette Miller-Meeks, and Attorney General Brenna Bird.

Governor Reynolds expressed her approval of the news in a statement on Monday.

Governor Reynolds shared, “I want to thank President Trump for his commitment to bringing steel manufacturing back to America, and Mesabi Metallics for choosing Iowa as its partner and future home. This is a transformational opportunity for our country, our state, and American families—one that strengthens national security, creates thousands of high-paying jobs, and provides a reliable supply of high-quality, American-made steel for strategic goods and everyday products,” Governor Reynolds said. “Our commitment in Iowa to fiscal responsibility, tax competitiveness, and long-term economic stability has created one of the nation’s strongest environments for business investment. Now, this opportunity will fundamentally change the economic trajectory of our state and the entire region for decades to come.”

Rep. Miller-Meeks (IA-01) applauded the announcement in a statement.

Miller-Meeks shared, “For too long, Iowa families have watched their jobs shipped overseas and their communities hollowed out. Not anymore. The largest steel plant in America is coming to Lee County with more than 1,700 permanent, good-paying jobs. I’m proud to have helped make this historic investment a reality. There’s no better place than Iowa to make things IN America, BY Americans.”