The Taconite Economic Development Fund (TEDF) grant program supports the local mining industry, which comprises over 30% of the regional economy. Each iron ore producer is eligible for a tax rebate of 25.1 cents per ton (CPT) of iron concentrate produced annually, provided total industry production is at least 30 million tons. The producer must match the tax rebate dollar for dollar.
The Taconite Production Tax, paid by each mining company in lieu of property taxes, is based on the annual amount of tonnage plus chips and fines produced by each company. The TEDF grant program funds operating or capital improvement projects that meet these goals. TEDF is a legislatively mandated program, per Minnesota Statutes Section 298.227.
Contact: Jason Janisch, 218-735-3057, Jason.Janisch@state.mn.us
Eligible applicants: Minnesota iron ore producers qualifying under Minnesota Statute Sections 298.227 and 298.98, subdivision 9a.
