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The North Shore area was one of 12 northeastern Minnesota communities that received a Taconite Area Community Relief grant from Iron Range Resources & Rehabilitation. Cook County Grand Marais Economic Development Authority (EDA) received a $250,000 grant and combined it with $190,000 of its own funds to provide $440,000 in financial assistance to 15 pandemic-distressed businesses and two nonprofits. The 17 organizations received zero-interest, 50 percent forgivable loans ranging from $6,750 for working capital to $15,000 for fixed assets. The assistance impacted approximately 135 jobs.
Businesses and organizations that utilized the COVID Relief funding included:
*Basecamp Bungalows: Expand parking lot with growth in business.
*Cascade Vacation Rentals: Working capital for employee salaries and training.
*Coldwater Foundation for Leadership and Community Development (nonprofit): Renovate kitchen.
*Fika Coffee: Purchase energy efficient espresso machine.
*Gunflint Mercantile: Install air purifiers, paint, replace shelving and deep clean.
*Hedstrom Lumber Company: Develop employee housing.
*Jeweler of the North Shore: Purchase computer hardware/software and display cases.
*Joy Enterprises: Replace windows, update electrical system and add insulation.
*Lutsen Mountainside Lodge: Create a comfortable outdoor area for guests.
*Lutsen Recreation: Remodel retail space to accommodate COVID- 19 regulations during the 2021 ski season.
*Lutsen Reflections: Construct waiting room for spa guests.
Mueller Studio: Create an indoor bathroom in studio.
*North House Folk School (nonprofit): Remodel and expand outside access and deck space for guests.
*Sivertson Gallery: Expand print shop, framing and website business.
*The Fisherman’s Daughter: Renovate existing space and add coolers.
*Voyageur Canoe Outfitters: Purchase yurt to diversify the revenue stream.
*WellSpring Therapy: Remodel entrance to therapy rooms to provide private access and limited exposure to clients.
“Thanks to $250,000 in funds from the Taconite Area Community Relief program, we disbursed loans to 17 area small businesses and nonprofits,” said Howard Hedstrom, Cook County Grand Marais EDA president. “Recognizing that taking on more debt after over a year of interrupted operations was not something most businesses could afford, the EDA designed the program so that 50 percent of the loan amount is forgivable if applicants keep their loan payments current, provide quarterly financials and show an increase in revenues or payroll. Cook County businesses are extremely grateful for this assistance.”
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