Ascension Economic Development Corporation proudly announces that the Hyundai Steel project in Ascension Parish has been selected as the Business Facilities 2025 Deal of the Year Platinum Award winner, the highest level of recognition given by Business Facilities magazine. This recognition marks a historic first for Ascension Parish, underscoring the global significance and transformative impact of this investment.
The award celebrates Hyundai Steel Company’s commitment to building a next-generation steel manufacturing facility at the RiverPlex MegaPark near Donaldsonville, Louisiana, a project that has captured national and international attention for its scale, innovation, and economic promise.
“Receiving the Deal of the Year Platinum Award is a tremendous honor and a testament to the vision and collaboration that brought this project to fruition,” said Ascension Parish President Clint Cointment. “This achievement reflects not only Hyundai Steel’s confidence in Ascension Parish and Louisiana, but also the strength of our workforce, infrastructure and business climate that made this investment possible.”
The nearly $6 Billion Hyundai Steel facility represents a major manufacturing investment and is expected to:
• Create more than 1,300 direct jobs, with thousands of additional indirect and construction-related jobs.
• Produce automotive-grade steel using electric arc furnace technology, a lower-emissions production method compared to traditional blast furnace operations.
• Strengthen U.S. manufacturing capacity and supply-chain resilience for the automotive sector.
“We are proud that this unprecedented investment will not only strengthen U.S. steel production capabilities but also elevate Ascension Parish on the world stage,” Kate MacArthur, President & CEO of Ascension Economic Development Corp. added. “The Platinum Deal of the Year Award acknowledges the collective effort of our local leaders, our workforce partners, our state and regional economic development associates, and Hyundai Steel to bring a future-defining project to life.”
About AEDC
Ascension Economic Development Corporation (AEDC) is a leading force in economic development, dedicated to creating sustainable growth and fostering prosperity in Ascension Parish, Louisiana. With a focus on innovation and collaboration, AEDC has successfully implemented a range of projects generating over $27 billion in capital investment and creating over 5,500 jobs that contribute to the economic vitality of the community.