AURORA — The city of Aurora is set to receive $15 million to develop an industrial site intended to attract a manufacturer.
The funds were approved unanimously Wednesday, Dec. 7, by the Iron Range Resources and Rehabilitation Board.
The plan calls for installing utilities and other infrastructure to set up 80 acres of land for future development, funded by a $9 million grant. And the other $6 million is a loan to the city’s economic development authority to construct a spec building to be leased to a future manufacturing tenant.
Janelle Greschner, director of business recruitment for the IRRR, said businesses are already interested in the planned industrial park in a city with very few manufacturing jobs.
"Locating a new business will not only attract new tax base, it will increase the number of highly skilled, talented individuals from out of the area to live and thrive in the community."
Minnesota DFL Rep. Dave Lislegard of Aurora, who sits on the IRRR Board, said the investment is an impactful one for the city. He noted the closure of LTV Steel Mining Co. in 2001 and the struggle since for economic development in Aurora.
"We can't continue to wait — we need to move forward with this agency and their commitment with the city and the East Range," Lislegard said. "This is really a big deal for northeast Minnesota."
The $15 million awarded to Aurora was part of $33 million in economic development funding across northeast Minnesota.
The IRRR is funded through taxes paid by Minnesota’s mining industry.
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