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Japan's Nippon Steel pledges to invest $1B in Gary, Indiana pending U.S. Steel acquisition

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Japan's Nippon Steel pledges to invest B in Gary, Indiana pending U.S. Steel acquisition


GARY, Ind. (WLS) — The city of Gary is putting it’s support behind the sale of U.S. Steel to Japan’s Nippon Steel, saying the deal could mean a new chapter for the city’s revitalization.

The Japanese company pledged Thursday to invest $1 billion in Gary, pending the acquisition of the American steel company.

However, the sale is drawing major opposition.

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“For the city, the partnership would mean so much,” Gary Mayor Eddie Melton said.

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The glory of the past joined the promise of the future Thursday as Gary, Indiana’s mayor and Japan’s Nippon Steel made their case for why the purchase of U.S. Steel would be a good thing for the economic struggling Northwest Indiana town.

“Michael Jackson might be the most famous resident in Gary, but the men and women of Gary works will build the future of the region,” Nippon Steel Vice Chairman Takahiri Mori said.

Nippon Steel is currently in talks to buy U.S. Steel for $14.9 billion.

During an afternoon news conference, the two leaders said it the sale would be a win-win for everyone involved. Nippon has been operating in the United States for over 50 years.

“Gary has had its fair share of impact of the downturn of the steel industry over the last several decades,” Melton said. “As the 22nd mayor of Gary, I wanted to show my support for this effort.”

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But some critics aren’t so sure.

There will be no job loss or plant closures because of this deal. If anything, we will need more steel workers to meet our vision for the future. We are not transferring jobs or production overseas.

Takahiri Mori, Nippon Steel Vice Chairman

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While supporters suggest that the acquisition reflects the Japanese company’s investment would represent a sizeable commitment to the Midwest region and the American steel industry, some remain concerned any deal could create serious national security issues for the United States.

President Joe Biden and President-elect Donald Trump have both said they would block the deal.

The committee on foreign investment in the United States calls the proposes agreement “problematic.”

In a statement this week, the United Steelworkers Union reiterated its opposition to the sale, saying ” The proposed sale is bad for workers, our communities and the domestic industry – as well as our national security, critical infrastructure and domestic supply chains. We must continue to resist it.”

The union has concern Nippon will transfer production and jobs outside of the U.S., something the company says it won’t do. There’s also concern the move could negatively impact U.S. Steel’s decisions when it comes to trade.

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“There will be no job loss or plant closures because of this deal,” Mori said. “If anything, we will need more steel workers to meet our vision for the future. We are not transferring jobs or production overseas.”

U.S. Steel, once an iconic American brand, has struggled to adapt to a changing global landscape around steel production.

Supporters of the merger argue Nippon provides critical funding to keep plants running and preserve thousands of union jobs.

Japan remains one of the United States’ closest allies.

The ongoing review by the committee on foreign investment is expected to be completed by year’s end.

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Indiana

Some Indiana lawmakers ponder taking up marijuana debate after Trump’s reclassification order – Indianapolis Business Journal

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Some Indiana lawmakers ponder taking up marijuana debate after Trump’s reclassification order – Indianapolis Business Journal


For several years, the common refrain among some state lawmakers has been that they had no desire to tackle the issue until the federal government reclassified the drug. That argument will be removed if the president’s order receives federal regulatory approval as directed.



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Indiana ethics panel approves Jennifer-Ruth Green settlement; possible criminal charges pending

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Indiana ethics panel approves Jennifer-Ruth Green settlement; possible criminal charges pending


The Indiana State Ethics Commission on Thursday approved a settlement requiring former Public Safety Secretary Jennifer-Ruth Green to pay a $10,000 civil fine, closing the ethics case against her — but potential criminal charges remain under review by the Marion County Prosecutor’s Office. The bipartisan, five-member commission voted unanimously to accept the agreement during its […]



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Bears consider move to Indiana with effort to secure public funding for stadium in Illinois stalled

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Bears consider move to Indiana with effort to secure public funding for stadium in Illinois stalled


CHICAGO — The Chicago Bears say they’re mulling a move to Northwest Indiana with their efforts to secure public funding they say they need to build an enclosed stadium in Illinois stalled.

Team president Kevin Warren insisted Wednesday in an open letter to fans that the team still prefers to build a new home on a tract of land it owns in suburban Arlington Heights, Illinois. He also said the Bears are not using the threat to cross state lines as leverage.

“This is not about leverage,” Warren said. “We spent years trying to build a new home in Cook County. We invested significant time and resources evaluating multiple sites and rationally decided on Arlington Heights. Our fans deserve a world-class stadium. Our players and coaches deserve a venue that matches the championship standard they strive for every day.”

Warren did not say where in Northwest Indiana the Bears would look to move.

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The letter comes just days before Chicago hosts rival Green Bay in a game with heavy playoff implications. The Bears (10-4) hold a slim lead over the Packers (9-4-1) in the NFC North. In their first season under coach Ben Johnson, they are trying to secure their first postseason appearance since 2020.

“The Bears have called Chicago home for more than a century,” Warren said. “One certainty is that our commitment to this city will not change. We will continue to provide unwavering support to the community. We need to secure a world-class venue for our passionate fanbase and honor the energy you bring every week.”

The Bears’ focus for a new home has fluctuated between a tract of land they own in Arlington Heights to the Chicago lakefront, and then back to the suburb. They have said they plan to pay for the stadium construction on the site of a former racetrack about 30 miles northwest of their longtime home at Soldier Field, though they would need assistance to complete the project.

According to a team consultant report released in September, they are seeking $855 million in public funding for infrastructure in order to build a stadium in Arlington Heights that could host Final Fours and Super Bowls. The Bears were also hoping the Illinois legislature would pass a bill in October that would freeze property taxes for large-scale construction projects such as the stadium, allowing them to begin construction this year. But that didn’t happen.

“For a project of this scale, uncertainty has significant consequences,” Warren said. “Stable timelines are critical, as are predictable processes and elected leaders, who share a sense of urgency and appreciation for public partnership that projects with this level of impact require. We have not received that sense of urgency or appreciation to date. We have been told directly by State leadership, our project will not be a priority in 2026, despite the benefits it will bring to Illinois.”

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In September 2022, the Bears unveiled a nearly $5 billion plan for Arlington Heights that also called for restaurants, retail and more, when they were finalizing the purchase of that site 30 miles from Soldier Field. Their focus moved toward building a new stadium next to Soldier Field after Warren was hired as president two years ago to replace the retiring Ted Phillips. The plan to transform Chicago’s Museum Campus got an enthusiastic endorsement from Mayor Brandon Johnson but a tepid reception from Illinois Gov. JB Pritzker and state legislators when it was announced in April 2024.

Last spring, the team announced it was turning its attention back to Arlington Heights, citing “significant progress” with local leaders.

Since moving to Chicago in 1921, the Bears have never owned their stadium, whether playing at Wrigley Field from 1921 to 1970 or Soldier Field since then.



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