Fact-check · Aug 21, 2026 · JD Vance
“Cleveland Cliffs is making today right here in Middletown, Ohio, a $1,000,000,000 investment in transformational manufacturing”
TRUE
What the record shows
Cleveland-Cliffs and the U.S. Department of Energy announced a combined $1 billion investment on August 21, 2026: $500 million federal grant plus $500 million from Cleveland-Cliffs. The company's total net capital outlay is $1.3 billion over 5 years (2025-2029).
Sources
- $1B investment announced for Cleveland-Cliffs’ Middletown Works facility | Local | daytondailynews.com
- Cleveland-Cliffs (CLF) Shares Jump on $1 Billion Federal Steel Investment Deal - Blockonomi
- Cleveland-Cliffs Reaffirms Commitment to Middletown Works Decarbonization Project and Ongoing Partnership with the U.S. Department of Energy :: Cleveland-Cliffs Inc. (CLF)
- Why is Cleveland-Cliffs stock surging today? By Investing.com
- What’s next for Ohio’s former green steel project? More coal, it seems. • Ohio Capital Journal
- What’s next for Ohio’s former green steel project? More coal, it seems. - Great Lakes Now
From: Vice President JD Vance Delivers Remarks in Middletown, OH
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