Processing ContentThe state government announced the proposed $5.8 billion steel plant for Ascension Parish in March 2025 . At the end of the 32 year period, the joint venture will be able to buy back the facility for $1,000. This is considerably less than if the joint venture paid normal ad valorem taxes during the period, Rolfes said. Ascension Parish, Landry's press office and the Louisiana Department of Transportation and Development didn't immediately respond to requests for comments. Efforts to reach the Ascension Parish Industrial Development Board and its president for a comment were unsuccessful.