Why Steel Matters
THE STEEL INDUSTRY HAS A MAJOR IMPACT ON PENNSYLVANIA’S ECONOMY AND PRODUCES SIGNIFICANTLY HIGHER THAN AVERAGE WAGES.
According to a 2023 economic impact study by the Pennsylvania Economy League, Approximately 123,761 full and part-time jobs, more than 30,978 of these directly in iron and steel mills and ferroalloy manufacturing. For each direct job, an additional 3.00 jobs are generated throughout Pennsylvania for a total multiplier of 4.00, which ranks in the top 10 percent of all industries measured.
Approximately $55.3 billion in economic output is created in Pennsylvania, $33.1 billion of this directly by the primary metal manufacturing industry. Furthermore, $20.0 billion in total value added to the Pennsylvania economy, $8.5 billion of this directly created by iron and steel mills and ferroalloy manufacturing. This represents the industry’s contribution to Pennsylvania’s Gross Regional Product.
Study results show wages for primary metals are 23.4 percent higher than private sector wages.
The full economic impact study commissioned by the American Iron and Steel Institute can be found here: