President Trump announced a $5.8 billion Hyundai Steel project, the company's largest investment in the U.S., for the Donaldsonville area of Ascension Parish. The steel project is estimated to bring in around 1,300 direct jobs and thousands of indirect jobs.

The new Ascension Parish plant will create up to 1,500 full-time jobs and notch a major economic development opportunity for south Louisiana, according to sources familiar with the deal.

Hyundai will build a $5.8 billion steel mill in Ascension Parish, with construction slated to begin in the fall of 2026, the company announced yesterday.