Updated at: 11/09/2009 10:11 PM
By: Renee Passal

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Plans for Former Ainsworth Plant in Grand Rapids

For over three years, the Ainsworth OSB plant in Grand Rapids has been shutdown.

But now, there's new life being breathed into the place.

The Itasca Economic Development Corporation has purchased the 223 acre site, and plans on making it an Eco Industrial Park.

One out-of-state company has signed a non-binding letter of intent, to locate a biomass facility there.

"It's a great opportunity for northern Minnesota. OSB and manufacturing as we know it, is over. This is the wave of the future," said Mike Twite, the former Environmental Manager at Ainsworth.

The IEDC said it needs to raise $5 million dollars to get the site ready for the new tenants. They hope to have the first businesses in, by next summer.

There are plans to market the site, which about 10 companies toured since January.

"But they didn't want the whole thing. It was too big, and they didn't want to develop it," said Diane Weber, of the IEDC.

So the IEDC decided to do the development. Funding for the sale is being worked out. But the amount was not disclosed.