EVELETH, Minn.— At its Friday, May 4, 2012 meeting, the Iron Range Resources and Rehabilitation Board (IRRRB) will consider $650,000 in funding of a $3.1 million expansion for Ellefson Off Highway, Inc. located in Iron, Minn. The company projects that nine new positions will be created.
"We are pleased that Chris Ellefson has chosen to establish and now expand this business that serves markets worldwide on the Iron Range, continuing the legacy established by his father David,” said Commissioner Tony Sertich. “We believe this next generation entrepreneur is well positioned for long term success in our region.”
Ellefson Off Highway, a mining equipment parts vendor, serves world-wide markets. Financing will be used to expand the business that is engaged in the sale of used and refurbished mining equipment and parts. Two new buildings totaling approximately 11,500 square feet will be constructed. The proposed financing also will provide additional working capital to facilitate the on-going growth of the business. As a result of the expansion, the company expects its total workforce to grow from 13 to 22.
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.