EVELETH, Minn.—Iron Range Resources and Rehabilitation Board (IRRRB) Commissioner Tony Sertich today announced that the IRRR Board approved $1.3 million in funding for development projects at its meeting in Eveleth. The funding will leverage over $9.4 million in total project investments. At least 110 jobs are projected to be created as a result of the following projects:
Furin & Shea Welding & Fabricating, Inc. of Hibbing received a $113,000 bank participation loan to purchase a large plate-roll machine to increase their abilities to serve existing and new customers.
Cutsforth, Inc. received a $450,000 bank participation loan to construct a building on the former Ainsworth site in Grand Rapids. The City of Grand Rapids also received a $150,000 grant from the IRRRB for infrastructure and site work for the Cutsforth expansion.
The City of Bigfork received a $250,000 grant for improvements to the water treatment and distribution system that will accommodate the expansion of Rajala Lumber.
The City of Chisholm received a $190,000 grant for new water, sewer and road construction on 6th Street SE between Central Avenue and 2nd Avenue SE. Completion of this project will provide a new 10-ton road to the city’s business park that will accommodate growth at Anderson Lubricants, Minnesota Twist Drill, and Duluth Redi Mix.
The City of Virginia received a $150,000 grant for utility hookups to 4th Street North, which will provide infrastructure for two additional large new development projects and assist in the expansion of Sundell Eye Associates on Bailey’s Lake.
At the meeting, Sertich also announced the official launch of the IRRRB’s new agency website located at www.irrrb.org. The website features a dynamic, user-friendly design and improved navigation and functionality.
According to Sertich, the website was designed with two main goals in mind: promoting the region and increasing transparency. “The website highlights the natural beauty of northeastern Minnesota and the advantages of doing business here,” said Sertich. “There also is a wealth of historical and current agency information that greatly increases the level of transparency and accountability with our customers.”
IRRRB is a state economic development agency headquartered in northeastern Minnesota whose mission is to invest in business, community and workforce development for the betterment of northeastern Minnesota.