As the Governor of Louisiana criticizes the city of New Orleans’ now scrapped plan for a $110 million bond sale for basic city needs – including infrastructure and payroll – advocates are highlighting his administration’s gift of massive amounts of taxpayer money to Hyundai, a corporation based in South Korea, for its proposed steel mill in Ascension Parish.

A Cooperative Endeavor Agreement executed by Landry’s Louisiana Economic Development agency in May of 2025 commits $600 million to the project, including $191 million dollars of state money to the corporation for land and construction of its facility. A Hyundai executive termed the deal – which is now being challenged in court – to be “free land and infrastructure.” These payments are in addition to $400 million in revenue bonds by the Port of South Louisiana for the project, as well as tax exemptions. Advocates and financial analysts deem the total package of parish and federal support for the Ascension Parish industrial complex to exceed three billion dollars.

Local advocates made the following statements in light of the Governor’s recent criticism of New Orleans’ financial management.

The following statement should be attributed to Ashley Gaignard, Founder and President of Rural Roots Louisiana, based in Donaldsonville, Louisiana:

“Governor Landry has been outspoken about how taxpayer dollars are spent in New Orleans. That same standard should apply statewide.

If Louisiana taxpayers are helping fund massive incentive packages to recruit Hyundai to Ascension Parish, then the taxpayers of New Orleans – and every parish that has contributed to this state’s economy for generations – deserve transparency and accountability. Public dollars should be subject to the same level of scrutiny, no matter where they’re spent.

State money is being used in Ascension Parish to fund Hyundai’s proposed steel mill. The state of Louisiana should not be Hyundai Corporation’s ATM.”

The following statement should be attributed to Anne Rolfes, Director of the Louisiana Bucket Brigade, based in New Orleans, Louisiana:

“Governor Landry has the nerve to bully New Orleans over money matters even as he presides over one of the worst deals in Louisiana history – a massive giveaway to Hyundai. He is objecting to New Orleans $110 million dollar bond for basic services when he has authorized a deal to give Hyundai $91 million dollars worth of land and $100 million toward building its facility. This is direct financial support for a foreign corporation, money that Louisiana desperately needs.

The Governor should not be giving hundreds of millions to a foreign corporation when there is so much need and so much poverty in our state. We are supposedly too poor to even give teachers a raise. He’s mocking New Orleans rather than helping us. The Governor should prioritze the people of Louisiana – our parish governments and our cities – rather than a South Korean corporation.

Governor Landry has no standing to preach about financial management. He needs to cancel the bad deal with Hyundai and stop bullying New Orleans.”

Background

Details about the state giveaways to Hyundai Steel are included in the lawsuit challenging Louisiana Economic Development’s Cooperative Endeavor Agreement, filed on April 2, 2026. This press release from that date includes videos of the plaintiffs objecting to the financial giveaways.

The Hyundai Steel mill is a centerpiece of the Governor’s agenda, championed by Governor Landry at the 2025 White House announcement of the project. The Governor’s purported justification for state giveaways to Hyundai is the job creation. However, the state has no plan in place to assure that the promised jobs are delivered, and taxpayers are likely on the hook if problems arise with the deal.

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