In April 2012, the Iron Range Resources and Rehabilitation Board (IRRRB) provided a $390,000 participation loan to Cast Corporation. The loan was used to help finance the company’s 8,200 square foot expansion to its existing facility. Cast Corporation opened in 1995 and is now located in Hibbing.
The company has gone from supplying patterns to the automotive industry to providing mold making, woodworking, patterns, castings and machining for a multitude of different industries. Construction on the new facility was completed this past fall, and the building is now in full use.
The expansion created five new full-time positions and retained 13 full-time positions.