"Iron Range Resources"
About Iron Range Resources
Headquartered in Eveleth, Minn., Iron Range Resources is a unique state agency designed to help strengthen and diversify the economy of northeastern Minnesota. Specifically, Iron Range Resources serves the interests of the Taconite Assistance Area (TAA), a geographical region encompassing approximately 13,000 square miles that stretches from Crosby, Minn., across the state's Cuyuna, Mesabi and Vermilion iron ranges to the North Shore of Lake Superior.
The agency also owns and operates Ironworld Discovery Center
in Chisholm and Giants Ridge Golf and Ski Resort near Biwabik.
"Taconite Assistance Area"
The agency's mission is to advance regional growth by stabilizing and enhancing the economy of northeastern Minnesota's Taconite Assistance Area.
What makes Iron Range Resources unique?
The agency and its programs receive no money from the state general fund. The agency's funding comes from a percentage of the production taxes, assessed in lieu of property taxes, on area iron mining companies. The production tax provides approximately 50 percent of the agency's budget. The other half of the budget is derived from non-mining sources, such as revenue from its facilities, interest earned on its fund accounts, and interest generated from its loan programs.
Courtesy Iron Range Resources