Recent News | Upcoming Events | Performance Indicators | Reports
NewsStay up to date on IEDC’s recent economic news and business-related events by visiting this website. Performance indicators are updated on a monthly basis and provide an overview of IEDC’s key activities and accomplishments.
Recent News
Activity Increases at the Itasca Eco Industrial Park
There has been the biggest increase in Eco Park activity during the past two months than in the previous two years since Ainsworth officially announced the closure of the Grand Rapids OSB mill.
With JDI Contracts coordinating the effort, Itasca Eco Industrial Park (IEIP) is in process of soliciting bids for planned demolition and site clean-up work at the Park, in preparation for the new and expanding businesses we seek to attract. Demolition contractors, including a number of local firms from northeast Minnesota, were on site last week to walk through the property.
In addition to the contractors and used equipment brokers, the IEIP has had a steady stream of visits from prospective businesses who have expressed interest in establishing operations at the site. Most recently, the IEIP team hosted a second visit from a manufacturer with a proprietary process for manufacturing LEED-certified building products out of waste materials. Discussions are still in progress with an out of state wood pellet producer and a European wind turbine blade manufacturer – both of whom have conducted extensive research into locating operations at the IEIP. However, the current surplus in the wood pellet industry and the slowing effect of the recession on the wind energy industry have both served to somewhat impede the progress of these projects.
APEX and IEDC are also in talks with a cellulosic ethanol producer, several wood products manufacturers, biomass boiler manufacturers, and several other viable prospects that are a good fit for the site and Itasca County. In order to continue this steady stream of business attraction/expansion leads, a formal marketing strategy is being rolled out, complete with brochures, webpages and direct-mail campaign materials that highlight the many advantages of doing business in Itasca County.
Bigfork Valley Prepares For Growth
IEDC is assisting Bigfork Valley Development Corp. with a 40 acre mixed use site development project. Part of the site will be industrial, with initial plans to include the construction of a 20,000 sq ft building. The facility is the proposed home of a medical products manufacturing company which would initially employ 7 people, and projecting growth to 45 employees within three years. In addition, the BVDC would offer flexible office space in the facility to seasonal or permanent residents in the area currently working out of their homes.
New Job Opportunities in Eastern Itasca County
Magnetation Inc. has entered into an agreement with Itasca County on a land lease for their planned expansion. The expansion will incorporate the use of Rev 3 Separator, a newly developed technology for hematite extraction. The company currently employs 56 workers at their first plant in Keewatin and projects 50 additional jobs would be created at the second plant. IEDC is working closely with Magnetation to help them obtain JOBZ status at their new site near Taconite, and to communicate with stakeholders regarding the project.
Industrial Space and Technology Space/Services Available
Seven thousand square feet of flexible use space is available in the IEDC industrial building located on Airport Road in Grand Rapids. The space includes an office, lunch room, overhead truck access and a large open area that can be configured for a range of uses including manufacturing and assembly. IEDC has contracted with Rennix Corporation to manage the Airport Road Building and they can be reached at 326-3730.
Space is also available for business start-up or expansion at the Itasca Technology Exchange (ITE) located in Central Square Mall in downtown Grand Rapids. The 1,200 available square feet can be made available in various configurations to suit. Data Center services with secure multiple collocation cabinets are available with redundant network connectivity and power supply. You don’t need to be a ITE tenant to utilize Data Center services. Please call Rennix Corporation at 326-3730 for more information.
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Upcoming Events
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Itasca Economic Development
May/June Monthly Report
Key Performance Indicators
| YTD | 2010 Annual Target | |
| Total Clients Served at IEDC Facility | 155 | 200 |
| Clients Served by IEDC/SBDC | 97 | 75 |
| Business Recruitment Leads | 17 | 25 |
| Capital Investment – Completed Projects | $1.8M | $2M |
| Capital Investment – Projects in Progress | $75.0M | $8M |
| Actual or Projected New Jobs – Completed Projects | 26 | 15 |
| Actual or Projected New Jobs – Projects in Process | 50 | 20 |
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Reports
Itasca Economic Development Corporation (IEDC) publishes Annual Perspectives which track economic measures that best reflect the economic health of Itasca County and compares the data with like activity of previous year. The reports serve to provide perspective on economic trends.
IEDC also publishes Annual Reports that outline the previous year’s key accomplishment and highlights.
2009 Reports:
2008 Reports:
2007 Reports:
2006 Reports:
