U.S. Steel has announced a $750 million investment in its Gary Works operations. The company says the funds are part of a $2 billion asset revitalization effort that will take place over the next five years.

Last year, U.S. Steel detailed plans that involved pumping $35 million into Gary Works, which followed the $23 million first phase of its Hot Strip Mill Restoration Plan.

The latest investment, the Indiana Economic Development Corp. says, won’t create additional jobs at the massive Lake County operation, but will retain more than 3,800 full-time positions.  Indiana is the nation’s leading steel-producing state, supplying more than 25 percent of the nation’s steel output.