BATON ROUGE – Louisiana has earned Business Facilities Platinum Deal of the Year for the second consecutive year, with Hyundai Steel’s $5.8 billion investment in Ascension Parish recognized as the nation’s most significant development announcement of 2025. With this selection, Louisiana becomes the first in the award’s history to receive consecutive Platinum honors.
“In 2025, Louisiana set a new standard for ourselves. This year, we are setting a new standard for the nation, and that starts with the unprecedented back-to-back Platinum Deal of the Year wins. Louisiana is a force in the industries that power America’s economy. Our workforce, our business climate and our commitment to growth are giving companies every reason to invest here with confidence. Louisiana is rising to meet the moment, and the nation is taking notice,” said Gov. Jeff Landry.
Business Facilities’ Deal of the Year Awards highlight projects that demonstrate significant capital investment, job creation, innovation and community impact. Hyundai Steel’s investment was selected for the 2025 Platinum Award for its national importance and the coordinated statewide efforts that advanced a project of this magnitude.
The honor follows Louisiana’s 2024 Platinum award for the Meta AI data center and signals the growing scale and prominence of the projects choosing the state.
“Back-to-back Platinum Deal of the Year wins signal an undeniable shift for Louisiana. We’ve moved from aspiration to achievement, building a climate where world-class projects choose Louisiana because they know we can deliver. This recognition affirms that Louisiana has entered a new era of competitiveness and success for our state,” said LED Secretary Susan B. Bourgeois.
Hyundai Steel will build an ultra-low-carbon steel mill on a 1,700-acre site in Donaldsonville, anchoring future development within the RiverPlex MegaPark. The project, announced in March 2025 at the White House, is expected to generate more than 5,400 job opportunities in the Capital Region. Centered around River Parish Community College’s new Westbank training center, Louisiana’s workforce partners are preparing residents for advanced manufacturing roles and providing a reliable, long-term talent pipeline for the region.
“Being named Platinum Deal of the Year recognizes the extraordinary scale of the Hyundai Steel manufacturing facility and the years of groundwork required to bring an investment of this magnitude to this point. This project is the result of more than a decade of collaboration, planning, and site development. Strong and seamless public-private sector partnerships are what make transformative projects like this possible. The Hyundai Steel facility in Ascension Parish is just the beginning of the impact that the RiverPlex MegaPark will have on Louisiana’s Capital Region,” said Lori Melancon, president and CEO of the Greater Baton Rouge Economic Partnership.
The Hyundai Steel project demonstrates the kind of major investment Louisiana is prepared to support. Advancing an investment of this magnitude required strong coordination and steady direction to move the project forward and demonstrated the state’s capacity to meet the expectations of global companies. Business Facilities’ recognition highlights the quality of this work and the confidence it provides to companies exploring opportunities in Louisiana.
“We are excited to share the stories of these top Deals of the Year. From Hyundai Steel choosing Louisiana to build the first fully integrated steel mill to be built in the U.S. in more than 60 years to Amkor Technology propelling the semiconductor boom in Arizona, these investments represent significant momentum in high-growth sectors. In Virginia, the new Hitachi Energy plant will deliver on energy infrastructure needs while Wistron’s investment in its new Texas operations opens up opportunities in that region. We congratulate the economic development teams that worked to bring these projects to fruition,” said Anne Cosgrove, Business Facilities editorial director.
The award follows Louisiana’s record-breaking year where the state saw its largest year of investment and direct job creation in state history. Together, these achievements signal a stronger, more competitive Louisiana positioned for sustained growth in the year ahead.