Iron Range Resources and Rehabilitation Board Approves Loans
The City of Grand Rapids is set to receive another manufacturer.
The Iron Range Resources and Rehabilitation Board (IRRRB) met Monday, October 17th, in Eveleth, to approve loans that would go to ACC Manufacturing and the Grand Rapids Economic Development Authority (GREDA), according to a news release from the IRRRB.
According to the news release, ACC Manufacturing will recieve $1.5 million to set up a manufacturing operation in an airport maintenance building in Grand Rapids. ACC will relocate eventually to a 7,000 square-foot facility across from the Grand Rapids Airport.
The Grand Rapids Economic Development Authority (GREDA) received a loan for $293,000 according to the release. GREDA will purchase a 7,500 square-foot hangar at the airport, then lease it to ACC.
The venture is expected to create 20 new jobs, with wages from $31,200 to $100,000.