A study commissioned by U.S. Steel has found the business contributed $1.8 billion in 2024 to Indiana's economy.
U.S. Steel, now a subsidiary of Japan-based Nippon Steel, commissioned Parker Strategy Group to do its first-ever economic impact study for the Hoosier State. The study found U.S. Steel supported 8,402 jobs across the state and paid $67.4 million in annual state and local taxes.
“Indiana has been at the heart of U.S. Steel’s story for more than a century. Gary Works has been a cornerstone of American steelmaking since 1908, and today it continues to power the state’s economy while supporting thousands of good-paying jobs,” CEO David Burritt said in a statement accompanying release of the report. “This report reflects not only our $1.8 billion impact on Indiana, but also our commitment to building a sustainable future for steel, for our communities, and for generations of Hoosiers.”
Gary was founded in 1906 as a company town for Gary Works, which came online in 1908. It was the largest steel mill in the world at one time and remains U.S. Steel's flagship mill.
U.S. Steel estimated Gary Works, the Midwest Plant in Portage and the idled East Chicago Tin generated $245.6 million in total tax revenue.
“This first Indiana analysis shows just how deeply U.S. Steel shapes the state’s economy and communities — supporting more than 8,400 jobs, investing in 401 Indiana-based suppliers, and generating millions in tax revenue that funds schools, infrastructure, and essential services,” said Nichole Parker, managing principal of Parker Strategy Group.
The study found U.S. Steel used 401 Indiana-based suppliers last year. The Pittsburgh-based steelmaker also contributed $2.7 million to the community, including from corporate giving and employee donations. Its employees volunteered more than 61,000 hours in 2024.
Nippon Steel recently invested $14.9 billion to acquire U.S. Steel after a protracted 18-month saga to gain control of the company.
It has pledged to invest more than $14 billion in U.S. Steel's operations, including more than $3 billion in Gary Works.
“The partnership with Nippon Steel will modernize an American icon. Combining U. S. Steel’s expertise, workforce and legendary footprint with Nippon Steel’s world class technology will accelerate transformation in Indiana and across the organization – leading to another century of impact on the local economy,” Gary Works Vice President Dan Killeen said in the company's press release on the study.
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