June 21, 2023
FOR MORE INFORMATION:
Sheryl Kochevar, Communications Director
218-735-3021, Sheryl.Kochevar@state.mn.us
At today's Iron Range Resources & Rehabilitation Board meeting, approximately $920,000 in loans, $2.35 million in infrastructure grants and $568,000 in trails grants were approved to advance projects in northeastern Minnesota. Agency total investment for all projects combined is approximately $3.8 million. Total project investment is approximately $29.9 million. The projects are expected to increase the regional tax base, retain jobs and create construction jobs, provide essential services and expand outdoor recreation. The loans are anticipated to impact 90 jobs. The infrastructure projects are projected to impact 66 jobs and create 150 construction jobs.
Participation Loans: $922,000
Agency Investment $922,000 | Total Investment $1,851,500
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Reynolds Manufacturing, Grand Rapids: $420,000 to purchase four pieces of equipment that will replace aging and outdated machines. The new equipment will help to increase productivity, increase efficiencies and attract new business. Reynolds Manufacturing owns and operates Northland Machine, a precision machine shop and parts manufacturer.
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Rapid Technologies, LLC, Cohasset: $154,000 to purchase new machining equipment and consolidate existing loans into one payment. Rapid Technologies is a machine shop and prototype manufacturer with extensive experience in fixture development.
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RSF Industries, Inc. dba Range Steel Fabricators, Hibbing: $78,000 to purchase one new piece of equipment that will replace an outdated and inefficient machine. The new equipment will decrease production time and increase finished product quality. RSF machines and fabricates steel and aluminum components for local companies who use them to assemble their products.
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Lamppa Manufacturing, Inc., Tower: $150,000 to provide working capital to help bring a new furnace model to market. The capital will be used for testing, marketing, initial inventory and training. Lamppa Manufacturing is a leading provider of wood-burning furnaces and has the world’s only EPA-certified furnace.
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Activ8ed, LLC dba East Dhu River Sawmill, Iron Junction: $120,000 to purchase the assets of East Dhu River Sawmill, Inc., East Dhu is a custom sawmill that utilizes local logger-supplied raw lumber and saws it into a variety of wood products including wood timbers, pallet wood and custom blocking for industrial customers, custom builders, contractors and homeowners.
Development Infrastructure Grants: $950,000
Agency Investment $950,000 | Total Investment $9,300,000
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Crane Lake Township: $950,000 to construct infrastructure and site work for a new 5,150-square-foot visitor center and campground at Crane Lake’s entrance to Voyageurs National Park, the Boundary Waters Canoe Area Wilderness and Quetico Provincial Park. The project will also rebuild an access road and public boat landing.
Community Infrastructure Grants: $1,400,000
Agency Investment $1,400,000 | Total Investment $13,926,163
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City of Chisholm: $600,000 to construct phase II infrastructure and site work for the construction of a new 23,000-square-foot public safety building that will house fire, police and ambulance services. The facility will serve 63 emergency personnel staff and provide services to the city and surrounding townships.
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City of Hibbing: $400,000 to renovate and upgrade two buildings into homeless shelters with a combined 54 units that will serve veterans as well as families fleeing domestic abuse.
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City of Virginia: $400,000 to construct infrastructure and site work for a 4,700-square-foot emergency housing fourplex that will serve families in need. The facility will be owned and operated by Range Transitional Housing.
Regional Trails Grants: $568,655
Agency Investment $568,655 | Total Investment $4,866,935
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Crow Wing County: $50,000 to develop a new a new multi-use park with three miles of hiking trails and an Off-Highway Vehicle (OHV) trailhead in the city of Emily on the east side of Little Emily Lake. The trailhead and parking lot will serve over 400 miles of OHV trails, including the Emily-Outing, Emily Blind Lake, Moose River Soo Line and Blind Lake.
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City of Ely: $280,000 to construct the new Ely Regional Trailhead facility, connection trails and amenities. The trailhead facility will function as a rest stop and tourist information center and serve the David Dill Taconite Snowmobile Trail, Prospector’s Loop ATV Trail and Mesabi Trail.
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Friends of Sax Zim Bog: $55,000 to create over one mile of six-foot-wide gravel walking trails near and along the Whiteface River, and to complete the Gray Jay Way loop on a year-round bog boardwalk at the Sax Zim Bog welcome center. The project includes off-road parking and interpretive signage.
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City of Eveleth: $43,775 to complete phase II of the Fayal Pond paved community trail which includes reconstructing and rerouting trails on the pond’s north and west sides.
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Iron Range Tourism Bureau (IRTB): $64,880 to fund the Northern St. Louis County Trails Task Force Small Trail Projects grant program. The program is administered by IRTB and provides grants to cover costs related to trails and trail facility/amenity projects in the region.
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Voyageurs Trail Society: $75,000 to reconstruct trails, repair two existing bridges, build nine new bridges install two gates and purchase a new 2023 Tucker Sno-Cat Grooming Tractor for the snowmobile trail network located between Voyageurs National Park and the David Dill/Arrowhead State Trail.
Iron Range Resources & Rehabilitation is funded through taxes paid by Minnesota’s mining industry. The projects approved at today’s board meeting support the agency’s FY23 spending plan which focuses on leveraging capital, improving the quality of life and retaining and creating well-paying jobs. The agency supports businesses, communities and workforce development projects that make northeastern Minnesota a desirable place to live, work and play.
Fiscal Year 2024 Budget & Spending Plan
The FY24 Iron Range Resources & Rehabilitation budget and spending plan was approved at the June 21 board meeting. The $68 million investment plan reflects the agency’s commitment to making its service area a better place to live and work. Through grant and loan programs, the agency strives to ensure that local businesses, communities and schools have the resources they need now to grow and prosper.
Strategic priorities and funding include:
- Improve conditions for economic growth with $34 million of resources in community and workforce development. Funds include a new $5 million pilot program to promote the preservation, rehabilitation and investment in regional housing stock and neighborhoods.
- Support public works infrastructure and business and industry with spending of $23 million, 34% of the budget. Infrastructure funding assists communities in modernizing, redeveloping and replacing foundational assets in order to attract business investment and expansion.
- Invest funds in natural and recreational assets, Giants Ridge and regional trails to generate diversification and economic impact while contributing to the quality of life in the region.
- Produce a fiscally sound spending plan that includes reserve funds for unforeseen future needs.
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