Update from Iron Range Resources
Iron Range Resources signed off on loans, rebate money and other funding on Tuesday.[State of MN]
At Tuesday’s Iron Range Resources & Rehabilitation Board meeting, approximately $3.5 million in loans, $4.1 million in community grants, $18 million in K-12 school collaboration funds, $1.4 million in higher education funds, and $7.2 million in mining fund rebates were approved to advance projects in northeastern Minnesota.
Total combined project investment is approximately $157.7 million. The projects are expected to increase the regional tax base, create permanent and construction jobs, provide essential services, improve education and expand outdoor recreation and mining.
The loans are anticipated to impact 19.5 jobs and create 32 construction jobs. The infrastructure projects are projected to impact 54 jobs and create 306 construction jobs.