The Iron Range Resources Board approved two loans Thursday to bring a manufacturer of photovoltaic solar panels to Mountain Iron.
Meeting in Eveleth, the board voted 11-0 to loan $1.5 million to Silicon Energy for equipment and $3.6 million to the Economic Development Authority of Mountain Iron to construct a 25,000-square-foot building in the Mountain Iron Renewable Energy Park. The plant will be the park's first tenant.
The $6.85 million project would create 15 or more full-time jobs paying at least $13 per hour plus benefits when it begins operations next year.
"We're really excited about moving up to the Range," John Carroll, vice president of the California-based Newport Partners -- which owns Silicon Energy -- said after the vote. "We think there is a really good work force up here."
According to Carroll, hiring for the Mountain Iron project will begin this fall. The plant is projected to begin operations in March 2011.
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"We are going to try to get this thing up and running as quickly as we can," Carroll said, in order to take advantage of existing tax credits and incentives.
Solar panels made at the facility will be built of material that will allow snow and ice to slide off.
Steve Kuchera is a reporter
at the Duluth (Minn.) News
Tribune, which is owned by Forum Communications Co.
