Economic Impact Across Indiana, Regarding U.S. Steel
INDIANAPOLIS — Thousands of people will be coming to Indianapolis for this year’s Indy 500 this weekend.
Gerry Dick, President and CEO of Inside Indiana Business, confirms the news to 93.1 WIBC host Tony Katz about a story about U.S. steel in a Tuesday morning interview. Dick says Nippon steel in Japan is wanting to buy U.S. steel.
“A big number came out Monday, where Nippon upped that bid to $14 billion,” Dick says. According to a reporting from Reuters, that includes a four-billion-dollar plant, which is a new steel plant that would be located somewhere, but they’re not saying where.”
Dick tells Katz in the interview that the previous bid included $1 billion in upgrades to the Gary Works, a major steel mill in northwest Indiana.
“The implications in northwest Indiana are huge. U.S. steel has been a big part of that region, and it is why Gary was founded many years ago,” Dick says.
Dick talks about where the economic impact is for the Indianapolis 500.
“It’s going to be right in Indianapolis. The motor sports sector, the industry, generates about $1 billion annually to the Indiana economy, according to estimates. Almost half of that comes from the Indianapolis Motor Speedway, so in any given year, the Indianapolis 500 is a huge economic driver,” Dick says.
You can listen to the full interview below.
