06 Feb 2013
February 6, 2013

Labovitz School Report Reiterates Mining’s Huge Economic Impact

February 6, 2013


A report outlining Minnesota’s mining industry determined the combined economic impact of iron ore mining and non-ferrous minerals development was more than $3.2 billion statewide.

The report, based on findings during 2010, was developed by the University of Minnesota Duluth (UMD) Labovitz School of Business and Economics. 

It concluded mining has the potential to more than double, supporting more than 27,000 jobs and producing $7.7 billion for the state’s economy if all projects currently under consideration move forward.

According to the report, proposed expansions to existing iron mines and new mining projects under consideration, both iron and non-ferrous, would support an additional 15,500 Minnesota workers and contribute an additional $4.5 billion to the state’s economy if all move forward. These numbers reflect annual operations only and do not include the jobs or economic impact of construction of new facilities.