A report in the Duluth News Tribune reports on loans recently issued by the Iron Range Resources Board. One loan will reportedly provide $1.5 million to Silicon Energy to buy equipment, while $3.6 million is going to the Economic Development Authority of Mountain Iron for a 25,000 square foot building in the area's renewable energy park.
Silicon Energy reportedly expects to build a plant in the area that will become the first tenant in the renewable energy park. The newspaper added the project is expected to create at least 15 full-time jobs paying no less than $13 per hour starting next spring.
Iron Range is a rural area in Central Minnesota located not far from Grand Rapids and the Chippewa National Forest.
As the solar energy industry continues to emerge, more parts of the country can continue to expect to benefit from jobs and other economic benefits. Residents of cold weather states are also finding that photovoltaic panels have become efficient enough to make solar energy investments pay off.
