Minnesota Mining Cluster
Late last year, a number of region's economic development professionals collaborated on a federal grant proposal. When the awards were announced, they were pleased to learn that our region was chosen as one of twenty in the nation to receive a $1.9 million grant from three federal agencies: the U.S. Department of Commerce Economic Development Administration (EDA), U.S. Department of Labor Employment and Training Administration (ETA), and Small Business Administration (SBA).
Our regional partners, the Northeast Higher Education District (NHED), Iron Range Engineering, and the Northeast Minnesota Office of Job Training received funding from the ETA. Their programs will aid in the continuation of a quality workforce in our region by providing training and education to unemployed, under-employed, and area graduates. The Natural Resource Research Institute (NRRI) was the recipient of the EDA portion of the grant which will increase its research capacity on the use of mining industry by-products and resource recovery.
The UMD Center for Economic Development received and will administer the SBA portion of the grant. What does this mean to area businesses?
- A comprehensive "Business Needs Inventory" to learn about the training and education needs of area businesses, as well as important business issues they are facing. This survey will be distributed by mail and email to area businesses within the next few weeks. Our aim is to ensure area development, education, and training organizations offer programs that provide value to local businesses.
- Additional support to businesses in our region that support the mining industry.
- Additional support for under-served, minority-owned, and veteran-owned businesses.
As the Small Business Development Center for Northeast Minnesota, our support comes in the form of consulting, technical assistance, training and education. Assistance will be provided on topics including feasibility analysis, business planning, start-up assistance, stabilization, exporting products and services, loan packaging, cash-flow analysis, marketing, the use of technology and social media, expansion, innovation and intellectual property. The Minnesota Mining Cluster grant allows us to expand our offerings to all area businesses, yet, at the same time, focus in on specific areas. We envision business stabilization, business growth, business creation, and job creation as a result.
