United States Steel Corporation (“U. S. Steel”) (NYSE: X) operations in Pennsylvania, which include U. S. Steel’s corporate headquarters in Pittsburgh and sites in Braddock, Clairton, Fairless Hills, Munhall, and West Mifflin, contributed $3.6 billion to the local and state economy in Fiscal Year 2022, according to an economic impact report released today. The report further concludes that the U. S. Steel’s economic activity supported or sustained 11,417 jobs.
“At U. S. Steel, we are thrilled to be the best partner to the communities in which we serve. We are deeply rooted in Pennsylvania, having operated here for more than a century,” said President and Chief Executive Officer David B. Burritt. “The steel that U. S. Steel creates keeps Pennsylvania – and America -- running strong. U. S. Steel is southwest Pennsylvania.”
“U. S. Steel and our employees are heavily engaged in Pennsylvania,” said Scott D. Buckiso, Senior Vice President and Chief Manufacturing Officer, North American Flat-Rolled Segment. “Beyond our economic impact, we support the communities where we live and work through charitable giving, volunteerism, and strategic partnerships to empower future generations.”
The study, commissioned by U. S. Steel, was conducted by Parker Philips, a nationally recognized consulting firm based in Erie that specializes in economic impact analysis.
“An economic impact analysis is an objective way to measure the impact of an organization in the regional economy. It is a tool that policy makers and local businesses can use to inform their decisions,” said Nichole Parker, a principal partner at Parker Philips. “The numbers speak for themselves. U. S. Steel’s impact from both an economic and employment perspective cannot be overstated.”
In the analysis, the study considered the direct spending on operations, pay, benefits, and capital projects by U. S. Steel and the estimated increase in demand for goods and services in industry sectors that supply or support the company. The study also measured the impact of charitable giving by U. S. Steel and its employees.
Among the highlights in the report:
- The $3.6 billion total economic impact of U. S. Steel’s operations in Pennsylvania in FY22 included $1.9 billion from direct impact and $1.7 billion in indirect/induced impact.
- The value added impact generated by U. S. Steel’s operations in Pennsylvania is $1.9 billion ($1 billion direct and $907.5 million indirect/induced).
- U. S. Steel’s operations in Pennsylvania supported an estimated 11,417 jobs (3,703 direct and 7,714 indirect/induced in FY22).
- Through its operations and capital spending in FY22, U. S. Steel generated $138.2 million in state and local taxes in Pennsylvania.
- U. S. Steel is an integral partner with organizations across southwest Pennsylvania. For example, U. S. Steel partners with the Braddock Carnegie Library, the Pittsburgh Steelers, and the Pittsburgh Penguins on various community activities, including reading programs and STEM learning initiatives.
- In 2022, U. S. Steel employees contributed an estimated $3.4 million in value to local charities through philanthropic giving and volunteering in the local community.
To view the full report on U. S. Steel’s economic impact in Pennsylvania click here.
About U. S. Steel
Founded in 1901, United States Steel Corporation is a leading steel producer. With an unwavering focus on safety, the Company’s customer-centric Best for All® strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as U. S. Steel’s proprietary XG3® advanced high-strength steel. The Company also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 22.4 million net tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit www.ussteel.com.
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