ST. PAUL, Minn. (AP) - Iron Range officials hope to see Minnesota approve millions of dollars in subsidies for an unidentified wood siding manufacturer.
A package of subsidies designed to attract the manufacturer to the Iron Range was included in bills that passed the Legislature over the weekend. But the bills are still awaiting Gov. Mark Dayton’s signature, said Iron Range Resources and Rehabilitation Board Commissioner Mark Phillips.
“We’re optimistic if they are signed that we would have some tools in place that would allow us to possibly attract a major wood products company,” Phillips said.
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, Minnesota Public Radio News (https://bit.ly/1szPrWC ) reported.
“I’m not big on incentives,” said Phillips. “But we’re not that unique as far as wood resources. So if you want to compete with other states and other countries you’re going to probably play in this game.”
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 argue that a new plant in the Iron Range would bring good-paying jobs to a region that badly needs them.
Officials estimate that the plant would create 250 jobs at the facility with a pay of about $27 per hour, as well as roughly 130 jobs for loggers and truckers, said Democratic state Rep. Jason Metsa of Virginia.
___
Information from: Minnesota Public Radio News, https://www.mprnews.org
Please read our comment policy before commenting.