According to a recent press release, US Steel is committing $2 billion in funds towards asset revitalization efforts in the company that will take place over the next five years. Gary Works, the company's largest manufacturing plant, is being allotted $750 million (37.5 percent) of that investment. According to the Indiana Economic Development Corporation (IEDC), the investment in Gary Works will not create new jobs but will retain more than 3,800 full-time positions. The IEDC, pending approval, will offer the company $10-12 million in conditional tax credits and training grants. The city of Gary will also be providing tax incentives to the steel mill.
The plant can produce 7.5 million net tons of raw steel each year and it includes steel making and finishing capabilities. Plans for the modernization initiative include new production equipment, machinery and technology. The facility serves customers in automotive, energy, industrial, metal building components, home construction, appliance and container industries.