Nippon Steel Investment Would Generate Incremental Economic Impact of Nearly $1 Billion in Pennsylvania Beyond Base Investment
United States Steel Corporation (X)
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Source: Business Wire
Study finds that upgrade of U. S. Steel’s Mon Valley Works facilities would lead to nearly 5,000 construction jobs and $38 million in taxes PITTSBURGH--(BUSINESS WIRE)--United States Steel Corporation (NYSE: X) (“U. S. Steel”) released a new economic impact analysis today, conducted by Parker Strategy Group, that assesses how the proposed $1 billion investment committed by Nippon Steel Corporation (“Nippon Steel”) to modernize U. S. Steel’s Mon Valley Works following the closing of the pending merger with U. S. Steel would generate a significant economic impact in Pennsylvania.For the purposes of the study, construction ($600 million) and equipment costs ($400 million) are separated and it is assumed that $600 million of the $1 billion investment would be spent in Pennsylvania.Considering the supply chain and labor realities that would reduce in-state spending for any major construction project in the Mon Valley, the study looked at a range of spending scenarios.According to the st
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