During its operation Geneva Steel was important to
Utah County's economy, providing thousands of jobs and attracting many ancillary businesses to the area. As time went on, however, the plant's fortunes declined due to multiple factors increasing labor costs and pension woes, foreign imports, Utah's relative isolation from the rest of the United States and the general decline of manufacturing industries in the United States. On at least one occasion, Geneva Steel paid its workers in uncommon
$2 bills intending to flood the local community with evidence of the plant's importance to the economy. Early in 1987 the mill shut down temporarily, but reopened later after the mill was spun off from US Steel and purchased by local business interests. but the reorganization attempt failed. Geneva Steel filed bankruptcy again and shut down permanently in November 2002. There is some controversy regarding their alleged pollution of Utah Lake. Contaminated groundwater under a former Utah steel mill may be moving toward Utah Lake according to a recent report conducted by a
Salt Lake City engineering company. The
Utah Department of Environmental Quality is investigating the CH2M Hill study of the Geneva Steel site to determine if contaminated groundwater is moving beyond the facility boundary. The facility site and environmental contaminants are being remediated under
EPA's voluntary
Brownfields cleanup program. U.S. Steel operated the site in the early 1940s, producing millions of tons of steel for the war effort. After the war, U.S. Steel ran the company until 1987 when it sold the plant to Geneva Steel Company. During its years of operation, the facility produced wastes contaminated with human carcinogens and hazardous substances including arsenic, lead, zinc, nickel, acids, PCBs and petroleum products. Arsenic, ammonia, and benzene recently showed up in a number of groundwater monitoring wells around the perimeter of the plant. The Utah Department of Environmental Quality is still unsure, however, if toxic chemicals are definitely moving toward Utah Lake. ==Liquidation deals==