Mining tax revenue funds $18.75 million in small business grants
What happened
Arrowhead Economic Opportunity Agency and Iron Range Resources and Rehabilitation Board celebrated a milestone regarding small business grants. The Business Energy Retrofit and Downtown Building Rehabilitation programs have awarded more than 1,000 grants across the Taconite Assistance Area. These programs represent approximately $18.75 million in Iron Range Resources and Rehabilitation Board program funding.
From elyecho.com
Why it matters
The grants are funded by taxes paid by Minnesota’s mining industry. Iron Range Resources and Rehabilitation Board uses this revenue to provide practical support to small businesses in the region. This support helps businesses improve their buildings and invest in their future.
From elyecho.com
Who's involved
- Arrowhead Economic Opportunity AgencyAdministers grants using state revenue for regional economic support.
- Iron Range Resources and Rehabilitation BoardCreates and funds the grant programs using revenue from Minnesota’s mining industry taxes.
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The entities involved
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Arrowhead Economic Opportunity Agency
non-profit organization in Northeastern Minnesota, United States
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Minnesota
state of the United States of America