Subsidies for Iron Range Plant Awaiting Gov. Dayton’s OK
ST. PAUL, Minn. (AP) - Iron Range officials hope to see Gov. Mark Dayton's signature on bills that include millions of dollars in subsidies for an unidentified wood siding manufacturer.
Reports say that the subsidies would include a $10 million appropriation, a production incentive of up to $3 million annually for up to 10 years and a sales tax exemption for building materials.
Developers are considering an industrial park in Hoyt Lakes for the plant's location. But local lawmakers have said Canada and Michigan are also competing for the plant.
Supporters of the incentive plan say a new plant in the Iron Range would bring good-paying jobs to a region that badly needs them.