U.S. Steel wins tax breaks from one of America’s poorest cities

Last year, the city harbored hopes for a revival after President Donald Trump imposed tariffs on steel imports and the company planned a $750 million investment to modernize Gary Works, its largest North American plant. The state of Indiana’s investment of $10 million in tax credits, along with $2 million in worker training grants, comes with the condition that U.S. Steel retain at least 3,875 jobs at Gary Works. But the proposed Gary deal is much more expensive: While the state gave $7 million in tax breaks to United Technologies compared to the $47 the city and state have offered U.S. Steel.

Source: www.reuters.com