U.S. Steel's Operations In Minnesota Generated $1.8B In Economic Impact
Portfolio Pulse from Benzinga Newsdesk
U.S. Steel Corporation's Minnesota Ore Operations had a $1.8 billion economic impact in FY22, supporting 5,284 jobs. The operations include Minntac and Keetac facilities and contributed $911.9 million directly and $865.4 million indirectly. The company also generated $141 million in state and local taxes and has been the largest contributor to the Minnesota Permanent School Fund since 2018. Employees contributed $1.8 million to local charities. The report by Parker Philips highlights the significant role of U.S. Steel in the region's economy and its commitment to sustainability and community support.
December 07, 2023 | 4:03 pm
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POSITIVE IMPACT
U.S. Steel's Minnesota operations had a substantial economic impact, supporting thousands of jobs and contributing to local taxes and charities. This positive report underscores the company's importance in the region and may bolster investor confidence.
The report detailing U.S. Steel's economic contributions in Minnesota is likely to be viewed positively by investors, as it demonstrates the company's significant role in the local economy and its commitment to sustainability and community support. This could lead to increased investor confidence and potentially a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100