Readers of my Monday column might have noticed that it was about 12 hours out of date. Vast amounts of research and reporting appeared to be blunted by a hasty announcement from the Oval Office. Such is the nature of these times, but I will remind that my original point still stands.
Minnesota’s public interest in the Mesabi Metallics project is significant. We must hold the company accountable for our investment and tremendous patience it its success.
Today’s column (gift link) reveals some high-stakes gambling happening just outside Nashwauk, Minn. No, I’m not buying that it’s somehow Minnesota’s fault that Mesabi Metallics proposes building a $15 billion steel mill in southeastern Iowa. Rather, Monday’s news had political overtones from the start, and my long history of reporting on this project give ample reason for caution.
Iowa is considering $1.5 billion in tax credits, while the U.S. Export-Import Bank is offering an even more unprecedented direct loan to the company. Anyone with a memory knows we’re in for a bumpy ride.
Read “Trump’s $15 billion Iowa surprise roils Minn. politics, but merits skepticism” in the Thursday, Oct. 1, 2026 edition of the Minnesota Star Tribune.
Aaron J. Brown is a columnist and member of the editorial board for the Minnesota Star Tribune. His new book about Hibbing Mayor Victor Power and his momentous fight against the world’s largest corporation will be out soon.
One response to “Iowa steel mill hype reveals a riverboat gamble”
Well its better for national security to spread the mine, top end processing and final mill products a bit away from each other. Wisconsin may end up contributing processed raw materials at some point. My dad told stories of guardsmen on the bridges of the old dmirr. It’s good for America overall. The sting will abate. Mr. MN Brown is spot on. Da Raintch needs alternative industries. People will step forward. Its inevitable. Roll those mills hot.