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Biochemical Plant Plans Move Forward, Several Hundred Jobs Expected

Updated: 04/22/2014 10:45 PM
Created: 04/22/2014 10:43 PM WDIO.com

Several hundred jobs are likely to be coming to the Northland after an Iron Range Resources and Rehabilitation Board vote Tuesday morning paved the way for a biochemical company.

Segetis plans on building a commercial-scale plant at the Laskin Energy Park in Hoyt Lakes. They would produce sustainable materials that can be used in plastic and cleaning products, and other consumer goods. 

The investment would be $105 million, with $21 million as a loan from the IRRRB. 

50 jobs are expected to be created at the plant, and more than 500 total jobs are expect when construction and other spin-offs are accounted for.

Courtesy: www.segetis.com

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