On Wednesday, The Daily Energy Insider reported that Entergy Louisiana is planning to increase energy production in Louisiana in anticipation of the steel manufacturing facility that Hyundai Steel Company (HSC) is building in Louisiana. This is what happens when tariffs are put in place–there is a positive trickle-down effect.
The article reports:
Entergy Louisiana is planning major transmission projects on the Westbank of the Mississippi River and in south central Louisiana that provide additional load-serving capacity for new economic development projects, such as the $5.8-billion new manufacturing facility announced Monday by Hyundai Motor Group.
Such transmission projects, which include significant new high-voltage transmission lines, will enable Entergy Louisiana to serve major new developments like Hyundai’s and improve service reliability to all of its customers, according to the utility.
“This historic investment will help set up Louisiana for long-term economic success, creating thousands of high-quality jobs and positioning our state as a leader in next-generation, low-carbon steel production,” said Entergy Louisiana President and CEO Phillip May. “Partnerships like this between industry leaders, elected officials, local communities, and economic development partners are critical to driving transformative projects that benefit future generations.”
The ultra-low carbon steel production plant will be located on roughly 1,700 acres in Donaldsonville, La., anchoring the RiverPlex MegaPark on the Westbank of the Mississippi River in Ascension Parish.
Hyundai Steel Company (HSC), a member of Hyundai Motor Group, is expected to create more than 1,300 direct new jobs with an average salary of $95,000. Louisiana Economic Development estimates the project will result in about 4,100 indirect new jobs, for a total of 5,400 potential new jobs in the region.
“Entergy Louisiana is proud to support Hyundai Steel Company with the reliable, sustainable energy solutions needed to power such an ambitious and forward-thinking facility,” May said. “Together, we are building a stronger, more sustainable future for our state.”
This is wonderful news. Among other things, it further distances Hyundai from any problems that may occur between North and South Korea. It provides jobs and income for people in Louisiana and will have a positive impact on their tax rate. In January 2025, the Louisiana unemployment rate was 4.5, ranking 40th among the states. I expect that to change as the Hyundai steel plant is being built and after it is built.