Taconite Area community relief grants assisted 145 businesses and impacted 776 jobs

Iron Range Resources & Rehabilitation in 2020 awarded $2 million in grants to 12 communities across the region that were negatively impacted by the COVID-19 pandemic. The grants ranged from $50,000 to $400,000. Each community leveraged their own funding with the grant to establish a lending program for businesses located within their community. Communities included: Babbitt, Chisholm, Cook County/Grand Marais, East Range, Ely, Eveleth, Grand Rapids, Hibbing, Greater Itasca County, Virginia, Silver Bay and Tower.

The Taconite Area Community Relief Grant Program collectively assisted 145 businesses and impacted 776 jobs through a total of over $3.9 million in zero-interest loans administered by the 12 communities. The communities can retain the loan repayments for future economic development purposes.

“The businesses located within the agency’s service area provide jobs to workers and provide the public with many goods and services. They were faced with extraordinary challenges and financial strain during the pandemic,” said Commissioner Mark Phillips, Iron Range Resources & Rehabilitation. “The communities utilized funding from the agency to custom tailor their own businesses assistance programs that helped alleviate the impacts and disruptions experienced by businesses over the past 18 months.”