Iron Range is driving the region’s economy
May 12, 08 by TheFleetIf you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!
by Anne Bretts | BusinessNorth.com
From a precious metals mine in Hoyt Lakes, a power plant expansion in Grand Rapids to a state-of-the art high-energy neutrino detector in Orr, the Iron Range is gearing up for a building boom.
Officials at the state-run Iron Range Resources office in Eveleth are planning for about $5 billion in construction from now through 2011, translating into thousands of construction jobs, more than 2,000 permanent jobs and up to 12,000 spin-off jobs created by vendors and suppliers.
But the story is different in nearby Hibbing. “Everybody seems to be in a holding pattern waiting to actually see MSI (Minnesota Steel Industries) proceed,” says Duane Northagen, community economic development coordinator.
And with good reason. At $1.65 billion, the planned new steel mill is the largest project now on the boards, with 700 permanent jobs and 2,000 construction jobs at stake.
Much more to the story, far-reaching economic effects at BusinessNorth.com >>
