U. S. Steel’s Operations in Minnesota Generated $1.8 Billion in Economic Impact
S. Steel”) Minnesota Ore Operations in the Mesabi Iron Range of northern Minnesota contributed $1.8 billion to the local and state economy in Fiscal Year 2022 (FY22), according to an economic impact report released today.
- S. Steel”) Minnesota Ore Operations in the Mesabi Iron Range of northern Minnesota contributed $1.8 billion to the local and state economy in Fiscal Year 2022 (FY22), according to an economic impact report released today.
- Among the highlights in the report:
The $1.8 billion total economic impact of U. S. Steel’s operations in Minnesota in FY22 included $911.9 million from direct impact and $865.4 million in indirect/induced impact. - In FY22, the value added impact generated by U. S. Steel’s operations in Minnesota is $1 billion ($570.2 million direct and $458 million indirect/induced).
- Through its operations and capital spending in FY22, U. S. Steel generated $141 million in state and local taxes in Minnesota.