
Tyler Jett
Reporter
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Oct 10, 2026
Early voting in Iowa begins Oct. 14
11:08
11:45
12:13
B
10:53Ben KiefferHOST
Walk us through the math that you dug into and how it compares with what Iowa usually offers for incentives.

Tyler JettGUEST
We took the number of jobs that they said that they would hire, and we took the dollar amount that the state has offered, uh, Masabi Metallics, and we did a little division there, and we figured out that if they do in fact hire 1,750 workers, and if they do in fact get $1.36 billion from the state to do this, that they will effectively be getting $777,000 per worker hired.

Tyler JettGUEST
To your other question about how that compares, generally, the Iowa Economic Development Authority, which is, you know, a state agency out here in Des Moines, uh, does a little, uh- You know, negotiating under a pretty standard incentive package they have, which they normally make decisions based off of how much money you're spending on construction, and how many people you're gonna hire, and how much you're gonna pay those people, and they kind of give you some, some money from there.

Tyler JettGUEST
And I want to say that on average, the last couple of years, they've offered incentive packages that came out to somewhere in the neighborhood of about $25,000 per job.
B
15:27Ben KiefferHOST
What did you find out about Essar's history, i- including the earlier Minnesota mine project's years of delays and a subsidiary's, uh, 2016 bankruptcy?