# Iowa Legislature to Amend MEGA Program

Iowa Gov. Kim Reynolds called a special legislative session for October 2, 2026, to amend the state’s Major Economic Growth Attraction (MEGA) program to accommodate Mesabi Metallics’ planned multi-billion-dollar steel complex investment. The state and the company have executed a memorandum of understanding, but the reported information does not specify the investment amount, project location in Iowa, or any procurement solicitation. For contractors and suppliers, the session signals a potential large-scale industrial development opportunity, not an active contract opportunity.

- The proposed program changes could shape the state incentives available for the steel complex; the Iowa General Assembly is scheduled to consider them on October 2.
- Construction, engineering, steelmaking equipment, and related suppliers may find potential business opportunities if the project advances, but no procurement scope or solicitation details are reported.
- Companies interested in pursuing project work should distinguish the executed state-company MOU from a contract award and use the legislative session and any subsequent project disclosures to clarify the site, schedule, and purchasing needs.

**Jurisdictions:** sled
**Industries:** Construction & Infrastructure
**Topics:** Policy, Grants & Funding
**Published:** September 30, 2026

### Government Entities
- Iowa General Assembly
- Office of the Governor of Iowa

### Vendors
- Mesabi Metallics (Steel complex investor and project sponsor)

### Key Quotes
> With reasonable and limited updates to an already-existing economic development program, we will accelerate major capital investment into our state, strengthen our economic trajectory, and shape the future of our state and region for generations.
> — Kim Reynolds, Governor of Iowa

### Sources
- [Gov. Reynolds calls special session to amend MEGA program | Governor Kim Reynolds](https://governor.iowa.gov/press-release/2026-09-29/gov-reynolds-calls-special-session-amend-mega-program) - IA