Expansion of mining-related business outside the Range area provides stability within the Iron Range economy. As mining on the Iron Range developed, many spin-off businesses began to provide services and products to support the mining industry. Mining industry fluctuations resulted in many of these businesses expanding into other states and countries.
Congressman Rick Nolan recognizes the impact this has on jobs, growth and prosperity in Minnesota and across the nation. “The national and international growth of so many businesses originally born to serve the mining industry demonstrates once again how central and critical mining is to jobs and the quality of life they bring all across the Range,” said Nolan in an email exchange on the topic. “Quite frankly, it’s impossible to over-estimate the importance of a healthy mining industry as an economic driver for future generations of entrepreneurs who will create good paying middle class jobs and fuel the demand for goods and services throughout northern Minnesota.”
The Iron Range Resources and Rehabilitation Board (IRRRB) plays an instrumental role in sustaining this growth. The Board works in conjunction with other state and federal agencies to connect local businesses with outside resources that can help identify what markets or other potential business opportunities could be available. Loans or loan guarantees for companies attempting to expand their business outside our region are also available.
Read more: http://www.hometownfocus.us/news/2013-09-06/Features/Local_exporters.html