EVELETH, Minn.—Job investments of $11.2 million were approved at today’s Iron Range Resources and Rehabilitation Board (IRRRB) meeting in Eveleth. According to IRRRB Commissioner Tony Sertich, the funding will support expansion projects that are projected to create 148 new jobs.
“It’s definitely a day to celebrate on the Iron Range,” said Sertich. “Not only do these projects create 148 quality jobs but also demonstrate the strong commitment these companies have to the future of our region.”
Delta Air Lines received a $5.9 million direct loan for the renovation and modernization of its 40,000 square foot facility in Chisholm. The funding will transform the facility into a modern, state-of-the art Customer Engagement Center and refurbish the infrastructure. It is projected that 107 new jobs will be created as a result of the expansion.
A $5.04 million direct loan to the Chisholm-Hibbing Airport Authority was approved to increase the size of its speculative building for further expansion by Detroit Diesel Remanufacturing (DMR). The company recently relocated its operations to the airport site and is already moving on to the second phase of its expansion. In addition to the 10 projected new jobs related to the company’s relocation, 40 jobs are projected to be added with this expansion.
A $250,000 bank participation loan to Hibbing Fabricators was approved. The loan will be used to add manufacturing and precision inspection equipment, which will help the company to increase production, remain competitive and add to its customer base, while creating one new job. The total project investment is $500,000.
In other business, $5.4 million in Taconite Economic Development Fund requests were approved for two projects at United States Steel – Keetac and two at United States Steel - Minntac.
To view the IRRR Board meeting, visit http://mn.gov/irrrb/media/board-meetings/.
IRRRB is a state economic development agency headquartered in northeastern Minnesota whose mission is to promote and invest in business, community and workforce development for the betterment of northeastern Minnesota.