Hyundai plans a $6 billion steel mill in Ascension Parish, Louisiana, creating approximately 1,300 jobs

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- Hyundai Motor Group has announced plans to build a $6 billion steel mill in Ascension Parish, Louisiana, to supply its U.S.-based Hyundai and Kia vehicle assembly plants. The facility is expected to create approximately 1,300 full-time jobs. Construction could begin as early as 2026, pending regulatory approvals, with operations expected to start by 2029. The plant will be located on several hundred acres of rezoned sugarcane fields near Donaldsonville, within the Riverplex MegaPark industrial site. Louisiana's Industrial Tax Exemption Program offers up to a 10-year exemption on local property taxes for new or expanded facilities, which Hyundai is eligible for, potentially reducing long-term costs on property and equipment investments. Additionally, Ascension Parish has offered Hyundai a rebate of two cents per dollar on applicable local sales and use taxes for building materials, machinery, equipment, and permanent fixtures used in the plant's construction and startup, contingent on the creation of at least 20 new jobs.