Taconite Economic Development Fund
Taconite Economic Development Fund (TEDF) is one way the agency supports our local mining industry which comprises over 30% of our regional economy. Each iron ore producer is eligible for a tax rebate of $0.251 per ton 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. (Minnesota Statute 298.227)
Contact: Linda Johnson, 218-274-7007, Linda.L.Johnson@state.mn.us
Eligible applicants: Minnesota iron ore producers qualifying under Minnesota Statute Section 298.98 subdivision 9a.
Iron Range Resources & Rehabilitation works to improve economic opportunities for diversity and inclusion within our service area.