Local elected officials and dignitaries welcomed a brand new industry to South Texas Wednesday as they broke ground for a $700 million iron ore processing plant in San Patricio County.

Voestalpine, an Austrian company, is building the plant alongside the newly dredged La Quinta ship channel. It will mean more high paying jobs for the Coastal Bend area.

Kiii News Reporter Joe Gazin was there for that groundbreaking on Wednesday, and went Live from the Omni Hotel downtown where the company held a press briefing earlier in the day.